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    Tax update Transfer pricing: new rules as of 1 January 2022 12 Jul 2022
    On 30 June 2022, Cyprus opened a new chapter with regards to transactions with controlled parties and Transfer Pricing. Read more.
    Tax update Tax and other incentives for the promotion of headquartering 30 Jun 2022
    The Council of Ministers of Cyprus approved, on 10 May, a bill with new tax incentives aimed at attracting foreign talent to Cyprus and encouraging
    Quantitative Risk EBA: use of COVID-19 impacted data for internal credit risk models 22 Jun 2022
    EBA published, on the 21st of June 2022, draft principles in assessing representativeness of COVID-19-impacted data in re-calibration of IRB models. The
    Quantitative Risk EBA publishes 2021 annual report: achievements and priorities 21 Jun 2022
    The EBA Annual Report was published on the 15th of June 2022, highlighting the main achievements made in 2021, providing an overview of the key priorities for
    VAT update Exemption from VAT for educational services for vehicle technicians 24 May 2021
    On 26/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which exempts from VAT educational services for vehicle technicians.
    VAT update Penalties write off for March - July 2020 13 May 2021
    On 29/4/2021 an amendment to the Cyprus VAT Law was published in the official Gazette which precludes the imposition of penalties in specific cases
    VAT Update Coronavirus Response: exemption from VAT 22 Apr 2021
    The European Commission has issued a press release on 12/4/2021 according to which it has proposed to exempt from Value Added Tax (VAT) goods and services made
    VAT Update Penalties for omissions relating to the application of reverse charge 29 Mar 2021
    Following the amendments of the Cyprus VAT Law that were announced in the Government Gazette on 20/08/2020, the Tax Department will impose penalties, as from
    Tax Update Extension to the submission deadline of 2019 Tax Return 22 Mar 2021
    We would like to inform you that in accordance with the Decree issued on 12 March 2021, the following electronic submission deadlines are extended to 30
    VAT Update Time of supply of non-monetary consideration in relation to supplies in the construction industry 25 Feb 2021
    The Cyprus Tax Department has issued Implementing Regulation No.11/2021 of 17 February 2021, providing clarifications in relation to the time of supply in
    VAT UPDATE Payment of VAT in instalments 09 Feb 2021
    Following the enactment of N5(1)/2021 amending the Cyprus VAT Law which was announced on 9/1/2021, the Tax Department issued a notice providing clarifications
    Quantitative risk IFRS 9 in the context of COVID-19 pandemic 28 Jan 2021
    Following the uncertainty arising from the current economic shock, prudential and securities regulators have published guidelines for the application of IFRS 9
    12 of 37 article
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