The ratification procedure in both countries has been completed and the Double Tax Treaty will enter in to force on 30 June 2023. It will generally apply as from 1 January 2024.
The Directive targets EU tax resident entities that are engaged in cross-border economic activities but have little or no economic substance, known as “shell entities”.
The Cyprus Tax Department issued additional 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 EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023, adding Russia, the British Virgin Islands (BVI), Costa Rica and the Marshall Islands.
The Cyprus Tax Department issued a series of Frequently Asked Questions (FAQs) on its website, providing guidance on certain aspects of the Transfer Pricing Rules introduced with effect from 1 January 2022.
Through a circular issued on 5 January 2023, the Cyprus Tax Authorities announced that the provisions of circulars issued in the past about the so called “back-to-back” financing arrangements...
With an announcement on 3 January 2023, the Registrar clarified that obliged entities must submit a Solemn Declaration along with their application for provision of UBO information...
The Cyprus Registrar of Companies through an announcement issued on 9 December 2022, clarified that what should be declared is the latest available information about a beneficial owner of an investment fund.
