The basics of doing business in Cyprus

The basics of doing business in Cyprus

On the 8th of December 2017 our Company, Premioserve Limited, organised with great success the seminar “The basics of doing business in Cyprus” at Crowne Plaza hotel in Limassol. The seminar was designed especially for the Russian community in Cyprus and was in Russian language. The seminar covered the topics of basic accounting principles, corporate and personal income tax matters and internet marketing. More than […]

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Cyprus tax residency – “60 day” rule

Cyprus tax residency – “60 day” rule

The Cyprus legislation recently amended where an individual can be considered as a Cyprus Tax resident if all of the following conditions are met: • stays in Cyprus for one or more periods of at least 60 days; • does not stay in another state for one or more periods exceeding a total of 183 days; • is not a tax resident in another state; […]

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Extension of the period for the scheme of settlement of overdue taxes

Extension of the period for the scheme of settlement of overdue taxes

Extension of the period for the scheme of settlement of overdue taxes by monthly installments On 29 September it has been voted by the parliament amendments to the law for the settlement of the overdue taxes by installments. The amendments are as follows: a) The deadline for the for submission of a claim for the payment of tax by installments has been extended from 3 […]

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Intra – group financing transactions

Intra – group financing transactions

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 […]

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