Intra – group financing transactions. Circular issued from Cyprus Tax authorities On 30 June 2017 the Cyprus Tax Authorities issued a circular providing guidance regarding the tax treatment of the intra – group financing transactions following the abolishment of the minimum margin scheme from 01/07/2017. The circular applies for existing and future financing transactions, therefore existing arrangements need to be revised in terms to comply […]
The Cyprus Tax Authorities issued an announcement where they give guidance regarding the implementation of the scheme. Important aspects of the law/scheme: 1. Type of taxes covered under the scheme a. Income Tax b. Special Defence Contribution c. Capital Gains Tax d. Inheritance Tax e. Immovable property tax f. Special Contribution g. Stamp Duty h. VAT 2. Periods covered a. All taxes due for the […]
On 16 August 2016 a new tax circular issued for guidance on the procedure for issuing tax rulings from the Cyprus Tax Department office. The new tax circular (2016/13) is in addition to the existing tax circular (2015/13). The new circular clarified: The fees for the issue of the tax rulings Tax rulings – opinion to be issued within 21 working days €2.000 Tax rulings […]
On 23 September 2016 the companies law has been amended. The main changes are as follows: The directors report, included in the financial statements, will change to a management report and the law specifies what should be included in that report There is a new definition for small – medium and large companies and also for small – medium and large groups On the calculation […]
