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 …
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 …
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:
Cyprus Tax News: Extension of the deadline for the submission of 2021 Personal Income Tax returns
We would like to inform you that a Decree (No.315/2022) was issued which extends the deadline for the electronic submission of the 2021 Personal Income Tax returns (TD1) up to 31 August 2022 as well as for the payment of the final tax due.
Εuropean Corporate Insights Magazine: Doing Business in Uncertain Times
In this publication we address “Doing Business in uncertain times” as one of the topics that have special interest for companies with multinational activities, and especially those doing business in Europe.
Cyprus Tax News: Increased Tax Deduction for Research and Development Expenses
In an effort to attract new investments and businesses in Cyprus, an enhanced tax deduction for Research & Development (R&D) expenses was incorporated into Article 9(1)(d) of the Cyprus Income Tax law (ITL). The most significant change of the amending law is as follows:
Cyprus Tax News: Introduction of New Transfer Pricing Documentation Requirements
On 30 June 2022, Cyprus’s parliament enacted for the first-time detailed transfer pricing legislation and incorporated the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD TP Guidelines) into the Cypriot Income Tax Law of 2002.
GDPR Flash News: Fine on the Hellenic Fire Brigade for GDPR violations & employee monitoring
The Hellenic Data Protection Authority imposed a fine of 35.000 Euros on the Hellenic Fire Brigade for violating the GDPR principles of lawfulness, transparency, security of the processing and non-satisfaction of an employee’s right of access.
Introduction to «anti – SLAPP» through 4 Q&As
“SLAPP” stands for “Strategic Lawsuit Against Public Participation” and it is used for intimidating and silencing criticism through expensive and baseless legal proceedings. “Anti-SLAPP” laws provide a remedy to “SLAPP” suits and protect especially the freedom of speech. In this context, at the end of April 2022…
Cyprus Tax News: Special Defence Contribution law amended to expand the application of the reduced rate of 3%
On 26 May 2022, the Cyprus Parliament passed into law amendments in the Special Defence Contribution (“SDC”) law, aiming to broaden the application of the reduced SDC rate of 3%. The amending SDC law was published in the Gazette on 8 June 2022 and is effective as from that date.