Intellectual Property (IP) Regime in Cyprus

Posted on July 23, 2020 by admin

In 2016, Cyprus adopted amendments to the Income Tax Laws and to the Cyprus Intellectual Property (IP) regime, to fully comply with the EU legislation and the relevant OECD recommendations of the BEPS Action 5. The amendments apply retrospectively as from 1 July 2016.

Continue reading →

Posted in General | Comments Off on Intellectual Property (IP) Regime in Cyprus

PROVISIONAL TAX: 1ST INSTALLMENT PAYABLE UNTIL 31 JULY 2020

Posted on July 14, 2020 by admin

We would  like to inform you that the first installment of the “Provisional Tax 2020” is payable until 31 July 2020.

Continue reading →

Posted in General | Comments Off on PROVISIONAL TAX: 1ST INSTALLMENT PAYABLE UNTIL 31 JULY 2020

Cyprus Funds industry

Posted on July 8, 2020 by admin

The international business environment has been changing rapidly over the past few years since there is a global movement towards transparency which leads to the introduction of the new stricter legislations and Anti Money Laundering procedures. The banking sector has become very strict, sceptical and reluctant in accepting foreign investors and raised barriers to many businesses that operate internationally. A significant factor considered by both banks and the tax authorities is the so-called substance. Many companies are struggling in establishing a business rational for setting up substance abroad and also the management and controlled is often questioned by the authorities and the banks. At the same time, in light to the economic crisis there is a need to look for alternative financing methods for the businesses.

Continue reading →

Posted in General | Comments Off on Cyprus Funds industry

The Cyprus Tax Portal

Posted on July 6, 2020 by admin

The Cyprus Tax Department launched last week the digital “Tax Portal” aiming to assist tax payers through an online and automatic platform without physical presence of the citizens at the tax offices and time consuming procedures.

Continue reading →

Posted in General | Comments Off on The Cyprus Tax Portal

DAC6 reporting deadlines_Extension for 6 months

Posted on July 5, 2020 by admin

The European Council on the 24th of June approved the optional 6 months postpone of DAC6 related to the Exchange of Tax Information between European Countries, in the view of Coronavirus crisis.

Continue reading →

Posted in General | Comments Off on DAC6 reporting deadlines_Extension for 6 months

GHS (GESY) contribution for June 2020

Posted on June 23, 2020 by admin

GHS (GESY) contribution rates for June 2020 are as follows based on announcement received from the Ministry of Labour

Continue reading →

Posted in General | Comments Off on GHS (GESY) contribution for June 2020

Employment of third country national in Cyprus Companies of Foreign Interests

Posted on June 20, 2020 by admin

In general, for the granting of permit for the employment of third country nationals in Cyprus, there are several conditions which have to be met. The basic conditions are the absence of prospects to meet the specific needs of the employer by local labour force, that is to say by Cypriot or European citizens and for the number of the third country nationals who are employed by the employer not to exceed the 30% of the total personnel of the employer.

Continue reading →

Posted in General | Comments Off on Employment of third country national in Cyprus Companies of Foreign Interests

Levy Tax 2020 for Cyprus Companies

Posted on May 8, 2020 by admin

Globalserve Consultants Ltd would like to remind you that for all the Cyprus companies, the 2020 levy of a €350 is now due for payment.

Continue reading →

Posted in General | Comments Off on Levy Tax 2020 for Cyprus Companies

Panama: Registration of Final Beneficiaries of Legal Entities

Posted on April 8, 2020 by admin

Panama implements the Private and Unique Registry System for Final Beneficiaries of Legal Entities.

“Private and Unique System of Registration of Final Beneficiaries of Legal Entities” was approved in Panama on March 17, 2020 and became law on March 20, 2020.

Continue reading →

Posted in General | Comments Off on Panama: Registration of Final Beneficiaries of Legal Entities

Belize Tax ID Number

Posted on March 9, 2020 by admin

We would like to update you with respect to the Belize companies requirement for Tax Identification number (TIN).

Continue reading →

Posted in General | Comments Off on Belize Tax ID Number