cyprus

New Non-Domiciled Rules in Cyprus

New Non-Domiciled Rules in Cyprus

Forward As part of the overall exertion to improve Cyprus’ attractiveness as an international business and financial center, and in order to remain highly compliant as a traditional jurisdiction, the House of Representatives on 16 July 2015 passed a number of new laws. One of the changes, introduced the new…

Achieving Substance in Cyprus

Achieving Substance in Cyprus

Introduction The intensifying initiatives in global tax reforms like the Base Erosion and Profit Shifting (BEPS) initiative created by Organisation for Economic Cooperation and Development’s (OECD) along with many of localized tax reform efforts, create a negative impact for multinational businesses. In addition, it is more popular that the countries…

Implementation of CRS in Cyprus as of 1 January 2016

Implementation of CRS in Cyprus as of 1 January 2016

In order to protect the integrity of tax systems and the fight against tax avoidance, governments around the world bring the standard automatic exchange of information in tax matters called Common Reporting Standard (CRS). The CRS is a set of global standards for the automatic exchange of financial information, developed…