Tax Alert – Summary Information Table Submission
Submission of Summary Information Table of Controlled Transactions for the year 2022. The tax department has recently announced that,
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Income Tax Return for the year 2023
The tax department has recently announced that the Income Tax Return (“T.D.1 form”) for employees, pensioners, and self-employed individuals who do not prepare audited financial statements for the year 2023 is now available for electronic submission via the TAXISnet system.
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Extension for Corporate Income Tax Returns Deadline
On 23 February 2024, the Council of Ministers of Cyprus issued a decree providing for the extension of the deadline for submission of the 2022 Corporate Income Tax Returns (“TD4 Forms”)
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Transfer Pricing Developments in Cyprus – update
On 1 February 2024, the tax department announced revised thresholds regarding the obligation to prepare a Cyprus Local File for transactions falling under Article 33 of the Income Tax Law (“ITL”), i.e., intercompany transactions.
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Tax Treatment of Income from Online Property Rentals in Cyprus
The circular outlines the tax treatment of income received from properties rented out via online platforms, such as Airbnb and Booking, or a website, such as self-service resorts, which are registered with the Deputy Ministry of Tourism.
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Income Tax updates in October 2023
Extension of the Deadline for Filing Objections and Imposition of Additional Tax for Personal Income Tax Liabilities issued in 2023
Income Tax updates in October 2023 Read More »
DAC8 Directive: Crypto and E-Money
The evolving landscape of digital assets and the significant crypto market growth has signalled an essential response from the European Union (EU) to ensure effective tax compliance. This has led to adopting a directive (DAC8) that amends the EU rules on administrative cooperation concerning tax matters. This directive seeks to strengthen the current legislative structure.
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EU List of Non-Cooperative Jurisdictions – October 2023
Recent Updates on the EU list of non-cooperative jurisdictions whi is a list of countries and territories the EU considers non-compliant with international tax standards and transparency.
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Income Tax Return for the year 2022
Reminder about the obligation for employees, pensioners, and self-employed individuals who do not prepare audited financial statements for the year 2022 to submit an Income Tax Return.
Income Tax Return for the year 2022 Read More »
Provisional Tax for the tax year 2023
Reminder about the obligation of the companies and individuals in Cyprus to estimate their annual taxable income and settle in advance their resulting income tax payable for the tax year 2023
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