31 December 2024 is the cut off date for assessing whether there a Deemed Dividend Distribution will need to be considered for Special Contribution for Defence purposes.
The introduction in 2015 of the concept of domicile in the tax system and the resulting special regime for persons not domiciled in Cyprus, commonly known as “Non-Dom” regime, is perceived as one of the most important provisions introduced in...
On 8 July 2024 the Cyprus Tax Department issued Circular 04/2024 entitled “50% exemption from Income Tax on remuneration from employment exercised in the Republic”.
On 22 March 2024, the Ministry of Interior announced further clarifications regarding the amended provisions of the Civil Registry Law regarding naturalisation.
To address some shortfalls of the Programme, important amendments were introduced with effect on 2 May 2023. These amendments are...
Companies with accounting profits for tax year 2020 which fall within the Deemed Distribution (DD) provisions, would have to declare a sufficient amount of dividend, in order to meet the 70% threshold of distributed profits on or before 31 December 2022.
On 3 March 2022 the Council of Ministers of the Republic of Cyprus decided for the number of persons who can obtain a Digital Nomad Visa to be increased from 100, which was set initially, to 500.
The Deemed Distribution (DD) provisions apply where a Cyprus tax resident company has not distributed as a dividend at least 70% of its after-tax profits...
