Protocol amending the Double Tax Convention between the Republic of Cyprus and the Swiss Confederation
The protocol amending the double tax convention between the Republic of Cyprus and the Swiss Confederation which was signed on 20 July 2020 in Nicosia, Cyprus came into effect on 3 November 2021 (please see Circular 3/2022). The protocol relates to the avoidance of double taxation in respect of taxes on income and on capital. The […]
Striking Gold at the 2022 Citywealth International Financial Centre (IFC) awards!
The 2022 Citywealth IFC awards took place in London on 26th January, and we are delighted to inform you that Elias Neocleous and Co LLC has retained its title as the “ Law Firm of the Year: Malta & Cyprus”. The annual IFC Awards were established to highlight the excellence of professionals within the world’s […]
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 […]
Elias Neocleous & Co LLC wins ‘Who’s Who Legal’ Award.
Ending 2021 on a positive note we are really pleased to announce that Elias Neocleous & Co LLC has added to the numerous awards already received this year by being named 2021 Cyprus Law Firm of the Year by Who’s Who Legal. Published by independent publishing group Law Business Research Limited, Who’s Who Legal’s reputation […]
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 […]
Article of our lawyer Elena Christodoulou on personal taxation
An article of our senior associate Elena Christodoulou has been published in the International Financial Law Review. The article provides an overview of how Cyprus tax resident individuals are taxed in Cyprus. It explores the tests for obtaining tax residency and the personal income tax rates. Moreover, reference is made to the Cyprus non-dom rules, […]
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 […]
Taxation of cross-border investments in and from CEE countries 2021
Elias Neocleous & Co LLC is proud to have contributed the Cyprus content of a new publication, the ‘‘Taxation of cross-border investments in and from CEE countries 2021”. The publication is a project coordinated by Loyens & Loeff, and it is intended as a tool for an initial comparison, with specific reference to holding companies […]