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


JUNE ICAS Newsletter - Issue 76/2020
The European Banking Authority ("EBA") published its final Guidelines on the treatment of structural FX positions.
06 July 2020
JUNE DIRECT TAX Newsletter - Issue 09/2020
We would like to bring to your attention that the deadline for the first temporary tax installment for the tax...
29 June 2020
JUNE ICAS Newsletter - Issue 75/2020
The present Circular is issued pursuant to section 25(1)(c)(ii) & (iii) of the Cyprus Securities and Exchange Commission Law ("the...
29 June 2020
JUNE INDIRECT TAX Newsletter - Issue 03/2020
We would like to inform you that on the 23 June 2020 it was published in the Official Gazette of...
25 June 2020
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