Cyprus has a system of self-assessment for corporation tax. All Cyprus tax resident companies have to pay provisional tax based on the estimated current year’s profits (2020) in two instalments: 1st instalment: 31 July 2020; 2nd instalment: 31 December 2020. Therefore, we would like to remind our clients and associates about the upcoming deadline for …
Protect your assets and save your taxes with us The outbreak of pandemic Covid-19 all over the world has disturbed the political, social, economic and financial structures. Many businesses were unable to continue their operations because of the significant losses. We at IBCCS constantly work to help our clients protecting their assets and provide solutions to …
As per the announcement of the president of Russia on 25 March 2020, the withholding tax rate on dividends and interests paid to bank accounts outside Russia will be 15%. The tax will be withheld in Russia as part of the new measures introduced by Vladimir Putin. A 15% rate currently exists for dividends paid …
Changes to the Double Tax Treaty of Russia and Cyprus Read More »
We would like to inform about certain actions implemented by the Cyprus Government in order to support the country’s economy, as a consequence of the unprecedented events of the pandemic. The increased contributions to the General Health Scheme (GHS) will not be applied for April, May and June as originally planned. Extension of the deadline submission of the …
As per the National Health System Law of 2001 89(I)/2001 and as amended in 2017, a national health system was introduced in Cyprus aiming to provide to the population equal access to a holistic health care system. Contributions to the GHS are deductible from the employer’s taxable income and of the individuals’ taxable income. The …
General Healthcare System (GHS) Contribution Increase Read More »
On February 7th we officially opened our new office in Tallinn, Estonia, licensed by the Financial Intelligence Unit in Estonia to provide fiduciary services. For those who did not participate to our seminar, we are briefly presenting below, why Estonia is one of the best EU destinations for start-ups and IT companies. Overview: Estonia is …
New regulations in key offshore jurisdictions including the British Virgin Islands, Cayman Islands, Bermuda, Guernsey, Jersey and Isle of Man, Marshall Islands came into force at the beginning of 2019 which require entities carrying on specific types of business to demonstrate adequate economic substance in that jurisdiction, with reporting requirements commencing in 2020. The rules …
Below is the list of charges that will be in force on 18 December 2019 in case of late registration. FOR COMPANIES 1. Transfer of Shares: Any transfer of shares of a private company with a share capital shall be notified to the Registrar of Companies within fourteen (14) days from the registration …
New Penalty Fees by the Cyprus Registrar of Companies Read More »
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