Importance of Pledge of shares in Cyprus
Importance of Pledge of shares in Cyprus Pledge of shares in a Cyprus company is a systematic way of granting security in commercial transactions. Outside court jurisdiction, the security can be used as collateral and be enforced. The pledge creates...
Corporation’s Tax rate in Cyprus
What is the Corporation’s Tax rate in Cyprus? The Corporation Tax Rate in Cyprus is 12.5%. A tax resident of Cyprus will consequently be taxed on its profits arising from Revenue – Expenses. Any income from in Cyprus, or abroad, will be...
How to establish a Cyprus Trust
How to establish Cyprus Trust Establishing a Cyprus International Trust varies in complexity and purpose; but the purpose of any Trust is to keep assets for a specific beneficiary such as family, charities, public workers or even just hold funds...
Cyprus Tax Outlook 2022
Cyprus Tax Outlook 2022 CYPRUS BECOMES A FULLY COMPLIANT CORPORATE TAX RATE JURISDICTION ATTRACTING MULTINATIONAL COMPANIES FOR HEADQUARTERING OR BRANCH SET UP In December 2021 the Cyprus Minister of Finance has announced that the year of 2022 will be a...
How Crypto is Taxed in Cyprus
IS IT REALLY A CURRENCY OR ANOTHER FANCY FINANCIAL INSTRUMENT? IS IT TAXABLE?In a nutshell, no one cares whether Cryptocurrency is a currency or stock as long as it makes money! However, there are some important aspects in this new...
EXTENSION OF ANNUAL LEVY PAYMENT
EXTENSION OF ANNUAL LEVY PAYMENT Dear Clients / Associates, We hereby notify you that further to the previous extension given by the Registrar of Companies regarding the payment of the Annual Levy of 2021 to December 2021, a further extension has...
TAX CALENDAR 2021
TAX CALENDAR 2021 Deadline Tax Obligation Tax Form Penalties End of each month Payment of PAYE deducted from employees’ salaries for the previous month TD61 Late payment results in the imposition of interest at 1.75%* per annum from the due...
VAT On Goods Explained
The key when it comes to sale of goods is the point of sale. This is determined by the place where the goods are situated – if the goods are situated outside Cyprus at the point of their sale then...