Introduction On 15 October, the Cyprus’ Minister of Finance announced and presented an Action Plan targeting investments in Cyprus by foreign companies. The key measures of the Action Plan are analysed below. The implementation of these measures will commence in the first quarter of 2022.   Business Facilitation Unit (BFU) Transformation of the existing Fast Track Business Activation Mechanism into…

First Double Tax Treaty between Cyprus and the Netherlands On 1st June 2021 Cyprus and the Netherlands signed their first Double Taxation Avoidance Agreement (DTAA), which will be in force as soon as various ratification procedures are completed.   The DTTA is based on the Organization for Economic Co-operation and Development (OECD) Model Tax Convention and its main provisions are…

The latest issues of PRISM – the quarterly tax newsletter, which is part of Reanda's effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Read the publication   Highlights AustraliaChanges to company tax rates There are changes to the company tax rates in Australia. The full company…

Introduction On 17 July 2020, the Cypriot House of Representatives passed a bill amending Section 9(1)(l) of the Income Tax Law which introduced changes with respect to the tax treatment of intangible assets. These changes affect the claim of capital allowances and the preparation of a balancing statement in respect of intangibles from 1 January 2020 and their objective is…

According to the Income Tax Office legislation, each company needs to estimate its final taxable income for the current year and pay two equal installments on the estimated tax before/at the following dates: 1. 31 July - current year 2. 31 December - current year If the Company fails to do so by submitting the IR6 declarations and its operations result in…

The latest issues of PRISM – the quarterly tax newsletter, which is part of Reanda's effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Read the publication Highlights Australia Income tax: Record keeping and access - electronic records This Ruling explains the Australian Taxation Office’s (ATO) view…