Whether serving public sector organisations, owner managed businesses, private individuals or listed companies with overseas operations, our goal is to help our clients achieve their ambitions.
Whether serving public sector organisations, owner managed businesses, private individuals or listed companies with overseas operations, our goal is to help our clients achieve their ambitions.
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.
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.
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.
Resident individuals
DIRECT PURCHASE OF REAL ESTATE
This section 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.
Resident Individuals
On 5 April 2019, Cyprus’ House of Representatives, voted into Law the provisions of the EU Anti-Tax Avoidance Directive. The Directive was published on 12 July 2016.
This publication contains useful information about the tax system in Cyprus for the tax year 2019. All information is based on Cypriot legislation and tax practices as of the date of publication.
