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. […]
New deadline for submission of 2019 Tax Returns.
On 12 March 2021, a decree from the Minister of Finance was published in the Official Gazette of the Republic. The decree extends the deadline for the submission of the 2019 Tax Returns for companies (T.D.4) and for self-employed individuals who are obliged to prepare audited accounts (T.D.1 self-employed). The new deadline for submission of […]
DAC6 –Directive of the Council of EU on mandatory disclosure and exchange of information on cross-border arrangements. Extension to the moratorium on the imposition of administrative fines for overdue submission of information
The Tax Department of Cyprus announced, on 26 February 2021, that there will be no imposition of administrative fines for overdue submission of DAC6 information in the following cases, provided that the relevant information is submitted by 30 June 2021: (a) Reportable cross-border arrangements that were made between 25 June 2018and 30 June 2020, information […]
Amendment to the Double Tax convention between the Republic of Cyprus and the Federal Republic of Germany
A protocol amending the current double tax convention between the Republic of Cyprus and the Federal Republic of Germany was signed on 19 February 2021 in Nicosia, Cyprus. The protocol relates to the avoidance of double taxation in respect of taxes on income and on capital. The double tax convention with the German Federation is […]
