CYPRUS: PROVISIONAL TAX 2020
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 business from another COVID
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 […]
Changes to the Double Tax Treaty of Russia and Cyprus
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 […]
Tax and VAT measures of the Cyprus Government
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 […]
Estonia: your new business destination
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 Non-Domiciled Rules in Cyprus
Forward As part of the overall exertion to improve Cyprus’ attractiveness as an international business and financial center, and in order to remain highly compliant as a traditional jurisdiction, the House of Representatives on 16 July 2015 passed a number of new laws. One of the changes, introduced the new status of a “non-domicile” (non-dom) […]
Polskie regulacje w sprawie opodatkowania dochodów uzyskiwanych poprzez kontrolowaną spółkę zagraniczną
Z dniem 1 stycznia 2015 r. weszły w życie przepisy przewidujące opodatkowanie przez polskich podatników dochodów uzyskiwanych poprzez zagraniczne spółki kontrolowane (Controlled Foreign Corporation – CFC). Zgodnie z polską ustawą o podatku dochodowym od osób prawnych za zagraniczną spółkę uznaje się: osobę prawną, spółkę kapitałową w organizacji, transparentną podatkowo spółkę, jeżeli jest traktowana przez […]
Achieving Substance in Cyprus
Introduction The intensifying initiatives in global tax reforms like the Base Erosion and Profit Shifting (BEPS) initiative created by Organisation for Economic Cooperation and Development’s (OECD) along with many of localized tax reform efforts, create a negative impact for multinational businesses. In addition, it is more popular that the countries implement Controlled Foreign Company (CFC) […]
CYPRUS: PROVISIONAL TAX 2015 – FINAL PAYMENT
We would like to remind our clients and contacts about the upcoming deadline for submission of the 2nd declaration concerning provisional tax for the year 2015. Computation of Temporary Tax According to art. 24 of the Assessment and Collection of Taxes Law No.4 of 1978, as amended, the official deadline for submission of the Provisional […]
Annual Levy of EUR 350.00 – companies registered in Cyprus
Please be informed that as per the Article 391 of the Companies law (as amended Law No. 6(I)/2013), it is obligatory to pay the annual fee (Annual Levy) for all companies registered in Cyprus. The fee equals to EUR 350.00 (three hundred and fifty euros) and has to be paid to the Registrar of Companies […]
