Cyprus in the new International Tax Reality, by Marios Cosma


 In the last few years we have entered into a new era of global tax transparency. The Organisation for Economic Co-operation and Development (OECD’s) base erosion and profit shifting (BEPS) project is dramatically altering the international tax system by encouraging governments to close loopholes, improve transparency and align taxation of profits with economic activity. The European Commission has taken measures for the implementation of BEPS in a coordinated manner across EU Member States through the implementation of the Anti-Tax Avoidance Directive (ATAD), and Cyprus as an EU Member State should harmonise its legislation with such measures. In this regard, in the years 2019-2020, Cyprus will transpose into its national law the provisions of the EU Anti Avoidance Directive, with three measures of the Directive being effective from 1st of January 2019.

15 March 2019

Publications


DECEMBER ICAS Newsletter Issue 47/2019
The European Insurance and Occupational Pension Authority ("EIOPA") launched a consultation on guidelines on Information and Communication Technology ("ICT") security...
16 December 2019
DECEMBER ICAS Newsletter Issue 46/2019
The European Supervisory Authorities ("ESAs") published joint draft Regulatory Technical Standards ("RTS") to amend the Delegated Regulation on the risk mitigation...
09 December 2019
NOVEMBER ICAS Newsletter Issue 45/2019
The European Banking Authority ("EBA") published its final Guidelines on information and communication technology ("ICT") and security risk management.
02 December 2019
NOVEMBER ICAS Newsletter Issue 44/2019
The European Insurance and Occupational Pension Authority ("EIOPA") has published its second annual European Insurance Overview.
02 December 2019
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