Regulation Archives - IBCCS TAX LTD

Cyprus Permanent Residency by Investment IBCCS TAX

New legal framework for Permanent Residency by investment in Cyprus

Announcement, Cyprus, Regulation, Residency / Maj 11, 2021 Maj 11, 2021

The Cypriot government recently announced certain amendments to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, which became effective on the 24th of March 2021, in an effort to further attract foreign investment to the island and to aid economic recovery and further economic growth. Investment criteria The applicant must make an …

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New crowdfunding & P2P lending regulations in EU

Announcement, Regulation / Kwiecień 27, 2021 Kwiecień 27, 2021

New EU Crowdfunding Regulations will apply from 10th November 2021 to providers of two key types of crowdfunding: investment-based crowdfunding and peer-to-peer lending. The operations of crowdfunding platforms will be subject to pan-European rules due to Regulation (EU) 2020/1503 and Directive (EU) 2020/1504, adopted by the European Parliament in October 2020. According to the new regulations, a crowd service provider “CSP” that facilitates either investment-based …

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UBO Register in Cyprus – Intermediate System Solution

Announcement, Companies, Cyprus, Foundations, Regulation, Trusts / Kwiecień 13, 2021 Kwiecień 13, 2021

With reference to our article, we would like to inform you that the Registrar of Companies (RoC) has announced on 12 March 2021 that the electronic service for registration of beneficial owner details for companies and other legal entities is now available as from 16 March 2021. Ultimate Beneficial Owner – definition According to the …

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New contribution on all immovable property sales in Cyprus.

Announcement, Cyprus, Regulation / Marzec 19, 2021 Marzec 19, 2021

A mandatory contribution on Cyprus immovable property disposals was introduced through recently announced legislation, published in the Cyprus Government Gazette on the 22nd February 2021. Under the amendment, a levy of 0.4% will be imposed on the sale of real estate in the Republic. The proceeds adding towards adding towards the support of refugees and owners …

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New VAT Rules for cross-border e-Commerce

Announcement, Economy, Regulation / Luty 4, 2021 Luty 4, 2021

New VAT Rules for cross-border e-Commerce take effect 1 July 2021. The new rules introduce certain provisions for persons facilitating supplies of goods or services using an electronic interface such as a marketplace, platform, portal or similar means. Cross-border sales of goods and services. New rules extend the scope of the Mini One Stop Shop to a One-Stop-Shop …

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Ultimate Beneficial Owner (UBO) register to be introduced in Cyprus from 2021

Announcement, Companies, Cyprus, Regulation, Transparency / Grudzień 23, 2020 Grudzień 23, 2020

With the constant strengthening of AML regulation and enhancing transparency around the globe, the Cyprus Council of Ministers on 16/12/2020, have resolved to appoint the Registrar of Companies (RoC) as the competent authority to maintain a centralized register of beneficial owners (“UBO”) of companies and other legal entities; and an intermediate (temporary) platform has been …

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Jak obostrzenia związane z pandemią wpływają na regulacje dotyczące rezydencji podatkowej na Cyprze?

Announcement, Companies, Cyprus, Regulation, Residency, Taxation, Uncategorized / Listopad 13, 2020 Listopad 13, 2020

Ponieważ obecna sytuacja zmusiła rządy do podjęcia bezprecedensowych środków (ograniczenia w podróżowaniu, kwarantanna itp.), pojawiają się problemy dotyczące interpretowania skutków podatkowych w razie nieplanowanego czy też przedłużonego pobytu w danym kraju. Zwłaszcza osoby, które spotkał „lockdown” w kraju, który nie jest ich krajem rezydencji (w tym podatkowej), np. na Cyprze, czy w Polsce, mogą mieć …

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Impact of COVID-19 measures on the tax residence status in Cyprus

Announcement, Companies, Cyprus, Regulation, Residency, Taxation / Listopad 6, 2020 Listopad 6, 2020

Last week the Tax Department issued a Circular along with the Implementing Instructions[1] on the application of the provisions on tax residence and permanent establishment in the context of the circumstances of the pandemic. Cyprus is following the guidance called “Analysis of Tax Treaties and the Impact of the COVID-19 Crisis” issued by OECD in …

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CYPRUS: PROVISIONAL TAX 2020

Companies, Cyprus, Regulation, Taxation / Czerwiec 11, 2020 Czerwiec 11, 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 …

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Tax and VAT measures of the Cyprus Government

Announcement, Companies, Cyprus, Regulation, Taxation / Kwiecień 2, 2020 Kwiecień 3, 2020

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 …

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