CA Tsialoupis & Co would like to remind you that the provisional tax returns (IR 5/6) for the tax year 2015 are due to be completed and filed to the tax department on or before 31 July 2015. Companies that…

In this age of globalization  many organizations including individuals have got their wings spread all over the world. In any country the tax is levied based on Source Rule and the Residence Rule. The source rule holds that income is…

VAT declaration – Payment/return of VAT VAT returns must be submitted quarterly and the payment of the VAT must be made by the 10th day of the second month that follows the month in which the tax period ends. (40…

The citizenship by investment programme:- The Cyprus government has developed and maintains an attractive citizenship by investment programme aimed at foreign investors and businessmen. It must be noted that spouses/cohabitees and children up to the age of 28 that are…

On 30 December 2015 The Ministry of Finance (MoF) announced that it will promote amendments to the current Cyprus Intellectual Property (IP) tax regime that will be in full alignment with the OECD’s Base Erosion and Profits Shifting (BEPS) Action…

Significant changes to tax legislation in Cyprus The Cyprus government has recently passed a number of amendments to its tax laws, which considerably enhance the competitiveness of the Cyprus tax system. The changes are some of the most significant since…

CYPRUS TAX NEWS JUNE 2015 Double Tax Treaty – Cyprus & Georgia On 2 April 2015, a Double Tax Treaty (DTT) has been signed between Cyprus and Georgia. The agreement will come into force as from 1 January 2016 when…

Contributions % 2019 2018 Employer 8,3 7,8 Employee 8,3 7,8 Social insurance contributions are restricted to a maximum amount that is usually increased annually. The maximum amount that applies for 2019 is €54.648 (weekly €1.051/monthly €4.554). Other employer’s contributions The…

Existing rules as of September 2018 Investment type TOTAL INVESTMENT (EXCL. VAT) A. 1 Investment in realestate, land developmentand infrastructure projects,*Residental properties, -Commercial properties /Land development / Developments in the tourism sector / Combination €2.5M (*At least one residental property…

What is a benefit in kind? “Benefit in kind” means the benefit that is, or is deemed to be, granted in connection with any employment or the holding of an office. Scope of application: The rules apply with reference to…