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Posted in News, News for Cyprus
Cyprus News: Zero VAT on essential goods
The approved amendment includes the imposition of 0% VAT rate, from 1 November 2023 until 30 April 2024, for the below goods:
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Posted in EMPLOYMENT PRACTICE, News, News for Cyprus, News for Greece
European Employment Insights: Newsletter Sep 23
The Andersen Employment and Labor Law Service Line is proud to present it’s first monthly newsletter. Andersen Employment and Labor Service Line is your go-to partner for navigating the complexities of local and international labor laws and customs
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Posted in News, News for Cyprus
Cyprus News: Transfer Pricing Documentation & Simplification Measures
The Cyprus Tax Department issued a Circular for documenting related-party transactions and introducing simplification measures for various types of intercompany transactions that may be applied, provided that the relevant taxpayer is not obliged to maintain a Cyprus Local File based on the provisions of the Income Tax Law.
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Posted in News, News for Cyprus
Cyprus News: Russia suspends DTT with Cyprus
Russia suspended certain main articles of 38 DTTs concluded by Russia with so-called “unfriendly” states, including Cyprus. The list of 38 “unfriendly countries” encompasses a wide array of nations from different regions of the world.
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Posted in News, News for Cyprus
Cyprus News: VAT reduced for certain goods and services
The Inland Revenue Department has clarified that the most appropriate method for financing transactions for transfer pricing purposes is the Comparable Uncontrolled Price (CUP) method, effective from the tax year 2023 onwards.
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Εuropean Corporate Insights Magazine: The EU Supply Chain Act
The proposed European Supply Chain Act (also known as CS3D) mandates that companies within the European Union (EU) must take comprehensive measures to address social and environmental impacts throughout their entire supply chain.
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Posted in News, News for Cyprus
Cyprus News: Transfer Pricing – CUP Method
The Inland Revenue Department has clarified that the most appropriate method for financing transactions for transfer pricing purposes is the Comparable Uncontrolled Price (CUP) method, effective from the tax year 2023 onwards.
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Posted in News, News for Cyprus
Cyprus News: Withholding obligations on rental payments amended
As of 9 June 2023, every person who has the obligation to withhold special contribution for defence from rental payments should pay in 2 instalments, by the 30th of June and by the 31st of December of each year, the relevant amount withheld.
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Posted in News, News for Greece, TAX LAW PRACTICE
e-Apostile: The electronic notarization of The Hague is now available via gov.gr
Since April 2006, a manual related to the electronic Hague Apostille Stamp has been issued, which has been renamed to e-Apostille. From 2012, it began to be gradually implemented by several member states of the Hague Convention…
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Posted in News, News for Cyprus
Cyprus News: New Employment Tax Exemption Amended
The House of Representatives recently voted on amendments in connection to the 50% exemption from income tax on the employment related remuneration subject to conditions. The amendments have retroactive effect as from 1 January 2022 and are listed below…
