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Cyprus Tax Alert❗ The deadline for the electronic submission of the income tax return for the tax year 2021, for companies and self-employed persons whose turnover exceeds the amount of €70,000 and have the obligation to prepare audited accounts, is on 31st March 2023. Our team is at your disposal to assist with the submission...
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The tax Department has recently announced the commencement of the implementation of Tax For All (TFA) online platform. TFA will be developed in three stages. The first stage relates to Value Added Tax (VAT) and is expected to be released by end of March 2023. The second and third stages, which will handle direct and...
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Structure considerations and tax incentive schemes What is a Family Office? The idea A Family Office is a setup established for the purpose of serving high net worth individuals and their families, aiming to preserve and grow their wealth as well as to provide structuring and succession planning advice and strategies. A Family Office can...
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In 2012, Cyprus introduced a comprehensive legislative framework to regulate betting activities. The Betting Law 2012 updated pre-established rules and guidelines and introduced new ones. Perhaps one of the most significant changes introduced by the Gambling Law was to appoint the newly established National Betting Authority (NBA) as the supervisory authority over all gambling activities...
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The legal framework governing trusts in Cyprus is based on The Trustees Law, Cap. 193, (“The Trustees Law”), which is largely based on the English Trustee Act of 1925 and on The International Trusts Law, No. 69(I)/92, (“The International Trusts Law”), enacted in July 1992 and amended with the International Trusts (Amending) Law, No. 20(I)/2012....
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On 14 July 2022, the House of Representatives approved a bill for the amendment of Tax Law, proposed as part of a Government strategy to attract foreign employees and specialised Cypriots with a high standard of living, permanently residing abroad for a number of years. The Law Amendment was published in the Cyprus Government Gazette...
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