Cyprus in the new International Tax Reality, by Marios Cosma


 In the last few years we have entered into a new era of global tax transparency. The Organisation for Economic Co-operation and Development (OECD’s) base erosion and profit shifting (BEPS) project is dramatically altering the international tax system by encouraging governments to close loopholes, improve transparency and align taxation of profits with economic activity. The European Commission has taken measures for the implementation of BEPS in a coordinated manner across EU Member States through the implementation of the Anti-Tax Avoidance Directive (ATAD), and Cyprus as an EU Member State should harmonise its legislation with such measures. In this regard, in the years 2019-2020, Cyprus will transpose into its national law the provisions of the EU Anti Avoidance Directive, with three measures of the Directive being effective from 1st of January 2019.

15 March 2019

Publications


NOVEMBER ICAS Newsletter Issue 43/2019
The European Banking Authority ("EBA") published a Consultation Paper on the draft amended Regulatory Technical Standards ("RTS") and Implementing Technical Standards...
18 November 2019
NOVEMBER DIRECT TAX Newsletter - Issue 11/2019
We would like to bring to your attention that the second installment of temporary tax for the year 2019 is...
15 November 2019
NOVEMBER DIRECT TAX Newsletter - Issue 10/2019
The Ukrainian parliament has passed on 30 October 2019 a draft law, ratifying the amending protocol of the Double Tax Treaty...
12 November 2019
NOVEMBER ICAS Newsletter Issue 42/2019
The European Securities and Markets Authority ("ESMA") has launched a Consultation Paper on position limits and position management in commodity derivatives. ...
11 November 2019
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