Action 5 of BEPS requires substantial activity for any preferential regime to be evident, and its purpose is to align taxation with substance so that profits are subject to tax in the country in which value is created.
We would like to inform you that the Tax Department of the Republic of Cyprus has issued on 24 March 2015, Circular No. 190, introducing a special scheme for the VAT treatment on leasing of private aircraft used for private purposes.
We would like to bring to your attention that the Temporary Tax Assessment for 2015 is approaching. We urge you to give due consideration to the matter so as to ensure that the payment of the relevant tax liability is performed in a timely manner.
All Cyprus tax resident individuals are taxed on all income accrued or derived from all sources in the Republic of Cyprus and abroad. Individuals who are not tax residents of the Republic are taxed on incomeaccrued or derived from sources in the Republic.
The Cyrpus Securities and Exchange Commission ("CySEC") published the Draft Law in regards to Market Abuse. The Law is in line with the European Regulation (EU) 596/2014 on market abuse and repealing Directives 2003/6/EC, 2003/124/EC, 2003/125/EC and 2004/72/EC.
The Cyprus Securities and Exchange Commission ("CySEC") has issued an announcement regarding the annual renewal of the persons registered in the public register, which has a deadline by the end of February. more...
The Cyprus Securities and Exchange Commission ("CySEC") has issued Circular C108 regarding the change of name and/or trade name of Regulated Entities. CySEC through the Circular would like to emphasize the following: