CYPRUS – TAX REFORM PROPOSALS
On 26 February 2025, the Economics Research Centre at the University of Cyprus presented the proposed Cyprus tax reform. The proposal is expected to be…
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Increase of social insurance fund contribution rates effective 1st January 2024
In accordance with the Cyprus Social Insurance Law of 59(I)/2010, as amended, the contribution rates to the Social Insurance Fund will increase as follows,…
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New Transfer Pricing Circular issued by the Cyprus Tax Department with respect to Simplification Measures for Low Value Transactions
On 6 July 2023, the Commissioner of Tax issued circular 6/2023 (attached) providing clarifications and guidance on the applicability of the Transfer Pricing…
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Amendments to the 50% exemption of Article 8(23A) of the Income Tax Law – 30 June 2023
On 30 June 2023 amendments to the 50% exemption provided in Article 8(23A) of the Income Tax Law was published in the official Cyprus Government Gazette. The…
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New income tax exemptions for employment income to attractforeign talent
On 26 July 2022, an amending law was published in the Gazette with respect to the income tax exemptions for employment income, provided in Articles 8(21) and…
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Transfer Pricing Rules voted 30/6/2022
As you already know Cyprus introduced all-new Transfer Pricing (TP) rules and reporting obligations that went into effect retroactively as of 1 January 2022.…
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