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


APRIL TAX Newsletter Issue 05/2019
We would like to bring to your attention that the Cyprus Tax Department (CTD) has issued an announcement providing clarifications...
24 April 2019
APRIL ICAS Newsletter Issue 14/2019
The Financial Conduct Authority ("FCA") has published its Business Plan for 2019/20, which outlines the key priorities for the coming...
22 April 2019
APRIL ICAS Newsletter Issue 13/2019
The Circular C309 is issued pursuant to section 25(1)(c)(ii) &(iii) of the Cyprus Securities and Exchange Commission Law ("the CySEC...
15 April 2019
APRIL ICAS Newsletter Issue 12/2019
The European Securities and Markets Authority ("ESMA") has announced that it has adopted new recognition decisions for the three central counterparties...
08 April 2019
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