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Reference rates for notional interest deduction for 2019

Article 9(B) of the Income Tax Law 2002 (as amended) provides for a notional interest deduction for tax purposes on new equity capital (paid-up share capital and share premium) injected into companies and permanent establishments of foreign companies on or after 1 January 1 2015 to finance business assets, calculated by applying a reference rate

VAT on transfer of right to dispose of immovable property

The Cyprus Tax Department has issued a circular (EE 229 dated 27 December 2018) explaining the application of Law 39(1) of 2018, which amended the VAT Law of 2000 to 2018 to bring the transfer of the effective right to dispose of immovable property as owner within the scope of VAT with effect from 1

National Risk Assessment of Money Laundering and Terrorist Financing Risks

The Ministry of Finance has announced the outcome of the first National Risk Assessment of Money Laundering and Terrorist Financing Risks (NRA), which was undertaken by the Cyprus authorities to identify, assess and understand the country’s money laundering and terrorist financing threats and vulnerabilities, in compliance with the recommendations of the Financial Action Task Force

Entry into force of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006

On 11 January 2019 the Cyprus Deputy Ministry of Shipping (DMS) issued a notification to registered owners, charterers, managers and representatives of ships flying the Cyprus flag, and other interested parties regarding the adoption, under the tacit acceptance procedure, of the 2016 Amendments to the Code of the Maritime Labour Convention of 2006. Following their

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