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.
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 published on 5 July 2024 the bond yield rates as at 31 December 2022 and 2023 for Montenegro and Cameroon, to be considered for...
The Cyprus Tax Department published on 7 March 2024 the bond yield rates as at 31 December 2023 for a number of countries, to be considered for the Notional Interest Deduction to which equity injected in to Cyprus companies...
The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 20 February 2024, removing the Bahamas, Belize, Seychelles and Turks & Caicos Islands.
Through an announcement dated 23 February 2024, the Cyprus Tax Department notified a decree issued by the Council of Ministers of the Republic of Cyprus providing for the extension of the deadline...
