The New Cyprus–Barbados Double Tax Agreement
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] Jun. 15, 2017 Author: PHILIPPOS ARISTOTELOUS MARISSA CHRISTODOULIDOU Law Firm: Elias Neocleous & Co LLC Publisher: Wolters Kluwer Practice area: TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING [/gdlr_column] [/gdlr_row]
Amendments to the Companies Law
Law 97(Ι) of 2016 amended the Companies Law Cap 113 in order to transpose the EU Accounting Directive (2013/34/EU) into domestic law with effect from 23 September 2016.. One of the most significant changes is the abolition of the exemption from audit that was previously available to small or dormant companies. Other changes relate to […]
Deferral of amended provisions regarding taxation of capital gains on shares in companies holding immovable property in Russia
In December 2016 the Cyprus Ministry of Finance announced that the Russian government had agreed to defer the introduction of source-based taxation of capital gains on shares in “property-rich” Russian companies, which was due to take place on 1 January 2017. Under the 1998 double taxation agreement between Cyprus and Russia, gains on disposals of […]
The changes to the Cyprus “intellectual property box”
In October 2016 the Income Tax Law was amended to bring its provisions on taxation of income from the use or sale of intangible assets into line with the “modified nexus” approach. This approach, which was agreed by G20 leaders towards the end of 2014 and adopted by the OECD and the EU, allows a […]
The new double taxation agreement between Cyprus and India
The revised double taxation agreement between Cyprus and India, which was signed on 18 November, took effect as regards Cyprus taxes at the beginning of 2017. Simultaneously with the agreement entering into force, on 14 December 2016 the Indian tax authorities rescinded the designation of Cyprus under section 94A of the Income Tax Act 1961 […]