Extension of the application deadline for applying into the scheme of settlement of overdue taxes

Extension of the application deadline for applying into the scheme of settlement of overdue taxes

The parliament has voted on 03/01/2018 for an extension of the deadline for applying into the scheme of settlement of overdue taxes. The deadline is extended to 03/07/2018. For the detailed terms of the scheme please visit our previous publication at: https://premioservecy.com/scheme-for-settlement-of-overdue-taxes-by-monthly-installmentsby-monthly-installments/   The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about […]

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VAT on land and rental of immovable property

VAT on land and rental of immovable property

On 29/12/2017 and on 02/01/2018 the Cyprus Income Tax offices issued the circulars EE219 and EE220 regarding the imposition of VAT on the: sale of non-developed building land, leasing of commercial immovable property in Cyprus.   The law for imposition of 19% VAT on the above transactions is effective from 02/01/2018. As per the law and guidance issued from Income Tax office the main provisions […]

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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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