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


FEBRUARY ICAS Newsletter - Issue 07/2021
The European Banking Authority ("EBA") published its final draft Implementing Technical Standards ("ITS") on the disclosure of indicators of global...
22 February 2021
FEBRUARY ICAS Newsletter - Issue 06/2021
The Cyprus Securities and Exchange Commission ("the CySEC") wishes with the present, which is issued pursuant to paragraph 37A of...
17 February 2021
FEBRUARY ICAS Newsletter - Issue 05/2021
With the entry into force of the Investment Firms Regulation (EU) 2019/2033 ("IFR") and Investment Firms Directive (EU) 2019/2034 ("IFD")...
08 February 2021
JANUARY ICAS Newsletter - Issue 04/2021
The European Insurance and Occupational Pensions Authority ("EIOPA") published the second paper in a series of papers on the methodological...
01 February 2021
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