On 22 December 2021, the European Comission published the Proposal for a Council Directive 2021/0434, also known as the Anti tax Directive III („ATAD III“), with the stated intention being to prevent the misuse of so-called „shell“ entities for the tax purposes. ATAD III aims to highlight the importance of minimal substance requirements and is applicable to …
EU COMMISSION PROPOSED DIRECTIVE ON SHELL ENTITIES Read More »
The European Court of Justice on 07.09.2022 has clarified that the family members of EU citizens, who come from third countries, may not fall under the scope of temporary residence, as it is established in the Directive 2003/109/EC (the Long-term Residents Directive, or LTRD), such as seasonal workers or students. Therefore, they can directly submit the application …
Expected Immigration Changes for Non-EU Family Members Read More »
On 21.12.2021, amendment 193(I)/2021 to the Income Tax Law has been published in the Official Gazette of the Republic of Cyprus by adopting an additional test for determination of corporate tax residency based on the incorporation principle. The new amendments will come into force on 31 December 2022. It provides that any company having its …
Additional Corporate Tax Residency Test – our remarks Read More »
Transfer Price is a practice in accounting occurring when goods or services are exchanged between divisions (subsidiaries, affiliates, or commonly controlled companies) of the same larger entity On 30 June 2022 the House of Representatives voted on and approved amendments to the Income Tax Law and the Assessment and Collection of Taxes Law (TP legislation). …
New Transfer Pricing Law Amendments and Regulations in Cyprus Read More »
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