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Cyprus Income Tax and Tax Reform

Transfer Pricing News in Cyprus

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…

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Incorporation Rules for Tax Residence

Important amendment on Income Tax Law – Residency of Cyprus Companies – Incorporation Rule applicable from 31/12/2022. As from 31/12/2022, a new development has been introduced in relation to the residency of Cypriot Companies and their taxation under Cyprus Tax…

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Penalties for the late submission of the Company’s Annual Return (HE32)

Income Tax Return for Individuals

The Tax Department has announced that the Income Tax Return for Individuals (T.D.1 Employee / Self Employed) for the tax year 2022 is available for submission via the TAXISnet system. It is noted that physical persons (Employees, Pensioners and Self-employed)…

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