Tax insights

New Date – Corporate and Personal Income tax Return

27 September 2021

Extension of electronic submission deadlines of 2019 Corporate Income Tax Return (TD 4) and 2019 Personal Income Tax Return

New Date – Corporate and Personal Income tax Return

Tax updates

5 August 2021

Iacovos Themistocleous

Tax updates and clarifications applicable for the tax treatment grants for COVID19 and extension for self-assessments payment deadline for the tax year 2020.

New date for the Submission of Personal Income Tax Returns

29 July 2021

Iacovos Themistocleous

It is announced that based on a Decree to be issued by the Minister of Finance, the deadline for submitting the Personal Income Tax Return for 2020 will be extended.

New date for the Submission of Personal Income Tax Returns

Personal Income Tax Return for 2020

19 July 2021

Iacovos Themistocleous

Employees and self-employed individuals who are not required to submit audited financial statements can digitally submit their income tax in the Taxisnet Portal.

Double Tax Treaty Agreement between Cyprus and Netherlands

3 June 2021

Iacovos Themistocleous

On 1 June 2021, the Republic of Cyprus and the Netherlands have signed for the first time an agreement to avoid double taxation.

Tonnage Tax Reductions - Provisions of Green Incentives Programme

2 June 2021

Tonnage Tax Reductions - The Cyprus Shipping Deputy Ministry issued green incentives to reward vessels with effective emissions reductions in 2021.

Tonnage Tax Reductions - Provisions of Green Incentives Programme

Cyprus Tax Extensions and Tax Overdue Amendments due to the Covid19 pandemic.

29 April 2021

Cyprus Tax Extensions and Tax Overdue Amendments due to the Covid19 pandemic. The European Commission Action Plan for Supporting the Recovery Strategy.

Extensions for the submissions of 2019 tax returns of companies and self-employed, and DAC-6 disclosures/ Παρατάσεις για τις παρατηρήσεις των φορολογικών δηλώσεων εταιρειών και αυτοαπασχολούμενων για το 2019, και γνωστοποιήσεων DAC-6

16 March 2021

Extension on submission deadline of Income Tax Return for 2019 for Companies and Self Employed Individuals

Overview of Cypriot Real Estate

15 March 2021

George Themistocleous

An overview on real estate tax levies in Cyprus, offering an insight in where to invest in the specific market.

Selling and transferring Cypriot Real Estate

15 March 2021

George Themistocleous

DIRECT SALE OF REAL ESTATE Resident individual Capital gains

Selling and transferring Cypriot Real Estate

DIRECT HOLDING OF REAL ESTATE This section discusses the most important tax implications of the direct holding of real estate. Firstly, it discusses the impact for resident individuals and non-resident individuals. Thereafter it discusses the impact for resident companies and non-resident companies.

Acquiring Cypriot Real Estate

15 March 2021

George Themistocleous

DIRECT PURCHASE OF REAL ESTATE This paragraph discusses the most important tax implications of the direct purchase of real estate. First, it discusses the impact for resident individuals and non-resident individuals. Thereafter it discusses the impact for resident companies and non-resident companies.

Cyprus Tax Facts 2021

19 February 2021

This publication contains insightful information on the tax system in Cyprus for the tax year 2021. It includes information based on Cypriot legislation and tax practices.

Φόρος Κεφαλαιουχικών Κερδών: Εξαίρεση δωρεάς ακίνητης ιδιοκτησίας σε ανάδοχο τέκνο / Cyprus Capital Gains Tax Law: Exemption of real estate property gifted to foster children

29 December 2020

George Themistocleous

Με βάση τον τροποποιητικό Νόμο, αναφορικά με το Άρθρου 10, ο περί Κεφαλαιουχικών Κερδών Νόμος εξαιρεί ως φορολογητέα διάθεση, δωρεές ακίνητης ιδιοκτησίας από ανάδοχο γονέα σε ανάδοχο τέκνο (ως ορίζονται στον περί Παιδιών Νόμο). Η πρόνοια του νόμου εφαρμόζεται από τις 23 Δεκεμβρίου 2020.

Cyprus Tax Law: Extension of the Income Tax exemption, according to Art 8(21)

29 December 2020

George Themistocleous

According to the amending law in respect of the Article 8(21), the Cyprus Income Tax Law provides that the lower of €8.550 and 20% of the remuneration from any employment exercised in Cyprus by an individual who was resident outside Cyprus the tax year before the year of commencement of employment in Cyprus is exempt from income tax.

CbC Reporting: Extension of submission deadline

29 December 2020

George Themistocleous

Following announcement issued by the Cyprus Tax Department, the filing obligations in respect of CbC reporting, are extended as below:

The Cyprus Intellectual Property (IP) Tax Regime

23 December 2020

Click here for The Cyprus Intellectual Property (IP) Tax Regime.

Procedures and Obligations towards the end of the Tax Year 2020

12 December 2020

George Themistocleous

Διαδικασίες και υποχρεώσεις, ενώ πλησιάζει το τέλος του φορολογικού έτους 2020 Καταγραφή και αποτίμηση αποθεμάτων

Submission of Income Tax Return for Individuals for the year 2019/Υποβολή Φορολογικής Δήλωσης Εισοδήματος Ατόμου για το έτος 2019

23 September 2020

Submission of Income Tax Return for Individuals for the year 2019

Amendments to the "VAT Laws"/Τροποποιήσεις των «περί Φόρου Προστιθέμενης Αξίας Νόμων»

16 September 2020

George Themistocleous

New legislative amendments enacted into the Cyprus VAT Law. Click here for more. Νέες νομοθετικές τροποποιήσεις που θεσπίστηκαν στους «περί Φόρου Προστιθέμενης Αξίας Νόμων».

Assessment and Collection of Taxes Law/Τροποποίηση των «περί Βεβαιώσεως και Εισπράξεως Φόρων Νόμων»

11 September 2020

George Themistocleous

Recent legislative amendments to the “Assessment and Collection of Taxes Law”, aims to improve tax compliance and collection of taxes. Click here for more

Anti-Tax Avoidance Directive: Implementation into Cyprus Tax Laws

11 September 2020

George Themistocleous

In order to fully adopt the provisions of the EU Anti-Tax Avoidance Directive (ATAD EU 2016/1164) of July 2016, the Cyprus Parliament voted into law the following provisions, which were published in the Official Gazette on 3 July 2020.

Temporary reduction of the VAT rate/Προσωρινή επιβολή μειωμένου συντελεστή ΦΠΑ

3 July 2020

As per the Decree Κ.Δ.Π. 268 / 2020 published on 23 June 2020, the VAT rate for accommodation, restaurant/catering and passenger transport services will be reduced from 9% to 5% for the period from 1 July 2020 to 10 January 2021. We would also like to clarify some matters that may arise with regards to this amendment.

Tax portal: The new digital tax portal of Tax Department/Φορολογική πύλη: Η Νέα Ηλεκτρονική Υπηρεσία του Τμήματος Φορολογίας

3 July 2020

The tax department on Friday announced the launch of a digital tax portal, giving access to their services online. According to an announcement by the tax department, the public and businesses can use the portal to be directly notified of their debts and payments, submit their tax forms and use internet banking.

Our services

Our industry

Tax insights

New Date – Corporate and Personal Income tax Return

Tax updates

New date for the Submission of Personal Income Tax Returns

Personal Income Tax Return for 2020

Double Tax Treaty Agreement between Cyprus and Netherlands

Tonnage Tax Reductions - Provisions of Green Incentives Programme

Cyprus Tax Extensions and Tax Overdue Amendments due to the Covid19 pandemic.

Overview of Cypriot Real Estate

Selling and transferring Cypriot Real Estate

Holding Cypriot Real Estate

Acquiring Cypriot Real Estate

Cyprus Tax Facts 2021

Φόρος Κεφαλαιουχικών Κερδών: Εξαίρεση δωρεάς ακίνητης ιδιοκτησίας σε ανάδοχο τέκνο / Cyprus Capital Gains Tax Law: Exemption of real estate property gifted to foster children

Cyprus Tax Law: Extension of the Income Tax exemption, according to Art 8(21)

CbC Reporting: Extension of submission deadline

The Cyprus Intellectual Property (IP) Tax Regime

Procedures and Obligations towards the end of the Tax Year 2020

Submission of Income Tax Return for Individuals for the year 2019/Υποβολή Φορολογικής Δήλωσης Εισοδήματος Ατόμου για το έτος 2019

Amendments to the "VAT Laws"/Τροποποιήσεις των «περί Φόρου Προστιθέμενης Αξίας Νόμων»

Assessment and Collection of Taxes Law/Τροποποίηση των «περί Βεβαιώσεως και Εισπράξεως Φόρων Νόμων»

Anti-Tax Avoidance Directive: Implementation into Cyprus Tax Laws

Temporary reduction of the VAT rate/Προσωρινή επιβολή μειωμένου συντελεστή ΦΠΑ

Tax portal: The new digital tax portal of Tax Department/Φορολογική πύλη: Η Νέα Ηλεκτρονική Υπηρεσία του Τμήματος Φορολογίας

OVERVIEW OF CYPRIOT REAL ESTATE TAX

Procedures and Obligations towards the end of the Tax Year 2019

Implementation of the EU Anti-Tax Avoidance Directive by Cyprus

Cyprus Tax Facts 2019

Procedures and Obligations towards the end of the Tax Year 2018

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