The Directive is set to ensure a global minimum level of taxation for multinational enterprise groups and large domestic groups in the EU. It introduces a 15% minimum effective tax rate for such groups with consolidated revenues exceeding €750 million per annum.
On 8 December 2024 the Republic of Cyprus and the Sultanate of Oman signed a Double Tax Treaty (DTT).
Through an announcement issued on 19 November 2024 the Cyprus Tax Department clarified that the bilateral Competent Authority Arrangement (CAA) for the exchange of Country-by-Country (CbC) Reports between...
Through an announcement dated 25 October 2024, the Cyprus Tax Department notified that the Council of Ministers of the Republic of Cyprus decided for the extension of the deadline...
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 8 October 2024, removing Antigua and Barbuda.
The Cyprus Tax Department issued new Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects of the Transfer Pricing rules introduced with effect from 1 January 2022.
The Cyprus Tax Department issued an announcement related to the Quality Assurance Declaration, which auditors and tax advisors are required to submit in relation to Local Files and Summary Information Tables...
Through Interpretative Circular 25, released on 3 September 2018, the Cyprus Tax Department clarifies the tax treatment of non-refundable capital contributions...
