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Posted in News, News for Cyprus
Back-to-Back financing arrangements retroactively terminated
The Commissioner of Taxation issued Circular 1/2023, which states that the provisions relating to “back-to-back” financing arrangements are retroactively terminated as of 31 December 2021. Based on the above, the application of the simplification measures on the intra-group “back-to-back”…
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Posted in News, News for Cyprus, News for Greece
R&D Incentives Reference Guide
Activities related to research, development, and innovation (R&D&I) are crucial for enterprises. A large proportion of corporations is engaged in research, development, and innovation (R&D&I) activities since an innovative approach is inevitable for long-term success. However, most of them are unfamiliar with the concept of R&D…
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Posted in News, News for Cyprus
Clarifications for the imposition of the 0,4% contribution on Cyprus immovable property disposals
A contribution of 0,4% is imposed on the sale of immovable property located in the areas controlled by the Republic and on the sale of shares in a company that owns such immovable property, provided that the buyer takes control of the company. The updated law provides the following clarifications:
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Posted in News, News for Cyprus, News for Greece
The M&A market in Europe: 2022 and expectations
In 2021, the mergers and acquisitions (M&A) market in Europe exceeded all expectations, setting a record that will be hard to beat. The circumstances were indeed favorable: after a pandemic in which the economy suffered an unexpected halt, factors such as economic growth due
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Posted in News for Cyprus
Clarifications for the Application of the Income Tax Exemptions for First Employment Income
The term “first employment” specifies that an individual is not considered to have a first employment or ceases to be considered to have a first employment in the following cases:
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Posted in News, News for Cyprus, News for Greece
Andersen Global Country Guides Microsite
We are pleased to announce the launch of the Andersen Global Country Guides microsite featuring Doing Business In and Tear Sheet summaries for different countries where we have a presence.
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Posted in News for Cyprus
Cyprus Tax News: Application of reverse charge for unprocessed and semi-processed precious metals
We would like to inform you that on 7 October 2022 a Decree was passed which provides that purchasers of certain unprocessed and semi-processed precious metals as defined in the Cyprus VAT Law, must account for VAT in Cyprus based on the reverse charge provisions.
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Posted in News for Cyprus
Cyprus Tax News: No obligation for individuals with gross annual income below €19.500 to submit a personal tax return
We would like to inform you that on 23 September 2022, a Decree (No. 373/2022) was issued in the Official Gazette which exempts individuals with gross annual income below €19.500, from the …
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Posted in News, News for Cyprus, News for Greece
Employment Event, September 15th: Facing Global Economic Challenges and Inflation
The world is facing major challenges. First, the pandemic paralyzed large parts of the economy, which many states and employers in Europe coped with at great cost and effort. Just as the states were reducing the pandemic-related restrictions, the economy was returning to its growth path …
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Posted in News for Cyprus
Cyprus Tax News: Tax Exemptions for Employment Income to Attract Foreign Talent
An amending law was voted in the context of the Government’s strategy to attract and retain foreign talent to Cyprus. The below existing exemptions will cease to be available for employments commencing after 26 July 2022:
