Amending Protocol To The Double Tax Treaty With The Russian Federation

On 10 August 2020 Cyprus and Russia agreed to amend their Double Tax Treaty (DTT) after extensive negotiations between the competent authorities of the two States and a revised protocol

Cell Companies in Shipping & Aviation by virtue of Act V of 2020

On 3rd March 2020, Act V of 2020 was published and among various amendments, it provided for the addition of Article 84E in the Companies Act, having the purpose of

Important Amendments To The Cyprus VAT Law – N. 121(I)/2020N & N. 122(I)/2020

OVERVIEW On 20th August 2020, the Cyprus Government published in the Official Government Gazette an amendment to VAT Law, aiming to improve the VAT collection and combat VAT fraud. The

Cyprus – Russia Amendment Of The Double Tax Treaty

Overview On 10th August 2020 Cyprus and Russia have agreed to amend their Double Tax Avoidance Treaty after extensive negotiations between the competent authorities of the two States in Moscow.

Amendments To The Double Tax Treaty Between Cyprus And Switzerland

The amending protocol was singed on 20/7/2020 and published in the Official Gazette of the Republic on 24/7/2020. Under article 7 – Business profits – of the treaty,  a time

Cyprus VAT and BREXIT Implications

As of January 1st, 2021, United Kingdom (UK) will formally exit from the European Union (EU) and will be a country outside the EU. Consequently, all the provisions of the

Malta – Amendments to the Companies Act – The Companies (Amendment) Act number XXXI of 2020

The Companies Amendment Act was enacted on the 23rd of June 2020 and introduced certain changes to the main act, the Companies Act, Chapter 386 of the laws of Malta.

Malta – Changes in the Register of Beneficial Owners Regulations

The entry into force of Legal Notice 247 in June 2020 brought about changes to the Companies Act (Register of Beneficial Owners) Regulations, 2017. Upon each anniversary of a company’s

“Tax Portal” The New Electronic Service of the Tax Department is now available to the public

The launching of the tax portal, which was announced by the Tax Department, is now fully functional. As per the Tax Department’s announcement, the Portal will be the new digital

Cyprus Government Announces VAT Measures In Order To Minimise The Effects Of The Coronavirus Outbreak On The Cyprus Tourism Industry

Further to our previous VAT updates regarding the decisions taken by the Cyprus government to use Value Added Tax (VAT) as a fiscal policy tool in order to minimise the

The Registration of a Branch for an Overseas Company in Cyprus

Overseas companies or “branches” as most commonly called, may register a branch in Cyprus according to the Companies Law, Chapter 113, regulated by Section 347 and operate through it for their international activities.

Taxation of Long – Term Leasing of Yachts

In terms of the Guidelines issued by both the Cyprus Tax Department and the Maltese Revenue, the overall VAT liability incurred on the leasing of a yacht can be reduced substantially depending on the extent of the effective use and enjoyment of the yacht within EU territorial waters.