The 2nd instalment of temporary tax for the fiscal year 2018 is now due for settlement

cyprus

The 2nd instalment of temporary tax for the fiscal year 2018 is now due for settlement

This is a kind reminder regarding the second and final installment of the temporary tax return for the year ended 31 December 2018.

cyprus

Treaty between Russia and Cyprus-Russian MoF clarifies dual tax residence status of individuals

On 19 September 2018, the Cypriot Tax Department issued an announcement clarifying that Constituent entities with a Cypriot Ultimate Parent Entity (UPE) will not be subject to local filing in...

cyprus

Treaty between Russia and Cyprus – Russian MoF clarifies dual tax residence status of individuals

The Russian Ministry of Finance provides guidance on the dual tax residency status of individual tax payers.

cyprus

Extended deadline for 2017 personal tax returns

The amended articles provide that the deadline for the submission of the personal income tax returns (T.D1s) for employees as well as for self-employees (who do note prepare audited financial...

cyprus

Publication on substance

“Substance” is a well-known tax concept used in cross-border tax structuring. The term “substance” does not appear in the actual text of double tax treaties (DTTs).

cyprus

Cyprus-Russia – Thin Cap Rules

The Russian courts issued a decision on 6 March 2018 (case OJSC SUEK-Kuzbass) on the application of the Double Tax Treaty between Cyprus and Russia of 1998 as amended in...

cyprus

Tax framework for newly established tax residents

Personal taxes and contributions - The main types of direct taxes applicable to an individual in Cyprus are:Income tax; Special defence contribution on dividend, interest and rental income; Capital gains...

cyprus

VAT rules for the leasing of yachts is incompatible with the EU VAT Directive (2006112)

On 8 March 2018, the European Commission (EC) decided to send letter of formal notice to Cyprus. The EC held the view that the Cyprus VAT rules for the provision...