New Year’s Eve heralds implementation of amendments to Income Tax Law and to Special Contribution for Defense Law
On 21 December 2021 new provisions amending both the Income Tax Law and the Special Contribution for the Defense of the Republic Law (SCD Law) were published in the Official Gazette of the Republic. The amendments had previously been approved by the House of Representatives and are designed to bolster anti-tax avoidance measures. They take […]
Tax reform on the horizon for 2022
On 9 December 2021, Finance Minister Constantinos Petrides, as part of his 2022 Budget presentation to the House of Representatives, announced the intention of the Cyprus government to proceed with the first major overhaul of the country’s corporate taxation system for 20 years. The proposals follow hard on the heels of the global agreement made […]
Elias Neocleous & Co LLC contributes the Cyprus chapter to “The Legal 500: Tax Country Comparative Guide”
Elias Neocleous & Co LLC is proud to announce the publication of the most recent update of the Cyprus chapter of “The Legal 500: Tax Country Comparative Guide”. The aim of this guide is to provide its readers with a pragmatic overview of the Tax laws and regulations across a variety of jurisdictions. Our chapter […]
Non-imposition of administrative penalties concerning tax returns submitted up until 6 December 2021
The Minister of Finance, in order to facilitate taxpayers and their tax consultants, has announced that there will be no administrative penalties imposed for the below mentioned Tax Returns submitted up until Monday, 6 December 2021: Personal Income Tax Return 2020 (TD1 Form) Income Tax Return for Self-Employed with Accounts 2019 (TD1SEmpl Form) Company Income Tax […]
Publication of the official guidelines for the implementation of DAC6 in Cyprus
On the 29th October 2021, the Ministry of Finance published in the Official Government Gazette the relevant Decree based on article 22Z on Administrative Cooperation in the Sector of Taxation Amending Law of 2021 (Κ.Δ.Π. 438/2021) (the “Decree”) governing the local implementation and regulation of matters pertaining to reportable cross-border arrangements based on the European Union […]
ADIT exam successes!
A man of many talents, our Finance Director, Constantinos Christofi, has now added success in all stages of the Advanced Diploma in International Taxation (ADIT) examinations to his list of accomplishments. Elias Neocleous & Co LLC is delighted to congratulate him on this excellent achievement. Happily, however, Constantinos is not the only member of staff […]
Tax on Corporate Transactions in Cyprus
Author: Elias Neocleous, Elena Christodoulou Firm: Elias Neocleous & Co LLC Publisher: Thomson Reuters Link
Elias Neocleous & Co LLC contributes the Cyprus chapter to the Global Legal Insights – Corporate Tax 2021
Elias Neocleous & Co LLC is proud to announce the publication of the most recent update of the authoritative and critical Cyprus chapter of the Global Legal Insights – Corporate Tax 2021. The chapter includes an analysis of the most recent Cyprus Law developments on matters such as transfer pricing, joint ventures and corporate migrations. […]
Further extension of DAC6 deadline
On the 3rd of June 2021, the Tax Department issued an announcement stating that there will be no imposition of administrative fines for the overdue submission of DAC6 information until the 30th of September 2021. This is a further extension to the one granted by the Ministry of Finance on the 26th of February 2021, […]
Amendment to Assessment and Collection of Taxes Law extends deadlines for 2020 Tax Return submissions and provisional tax payments
An amendment to the Assessment and Collection of Taxes Law has been passed by the House of Representatives and was published in the Official Gazette 20 April 2021. The amendment extends the deadline for submission of Form T.D. 1 (Income tax return of individuals) and Form T.D. 7 (Employer’s return) for the 2020 tax year. […]
