On 30 June 2022, the Cyprus Parliament passed a law introducing detailed transfer pricing (TP) legislation, by amending the current Cyprus Income Tax & Assessment and Collection laws. The Organisation for Economic Co-operation and Development (OECD) on Transfer Pricing Guidelines have been legislatively incorporated into the Cyprus Income Tax & Assessment and Collection laws and the new requirements will be implemented from the tax year 2022, starting from 1 January 2022 onwards.

Everything you need to know about the new Transfer Pricing Rules in Cyprus

In addition, on 6 July 2023 the Cyprus Tax Department issued a circular (6/2023) that introduces simplification measures for taxpayers that are exempted from the obligation of preparing a TP Local file.

Everything you need to know about the Simplified Transfer Pricing Rules in Cyprus

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