We are pleased to inform you that the latest Reanda network tax newsletter PRISM 1st Quarter 2013 issue is now published online in our website. Please click here to download a digital copy of the 1st quarter 2013 issue of PRISM.

In December 2012, a number of amendments and new laws were voted by the House of Representatives based on the Memorandum of Understanding between Troika and the Republic of Cyprus. The new laws and amendments, which are summarized below, intend to strengthen the state financials: Tax lossesTax losses can be carried forward to offset future taxable profits for a period…

Following the removal of Cyprus from the Portuguese ‘black list’ in 2011 (follow the link for details:http://www.httaudit.com.cy/index.php/component/k2/item/57-cyprus-removed-from-portugals-black-list) representatives of the two countries have concluded and signed a Double Taxation Avoidance Agreement (DTAA) and protocol on 19 November 2012. The treaty is based on the OECD Model Convention. It is our belief that the treaty will further enhance the business cooperation…

Στις 15 Νοεμβρίου 2012, η Βουλή των Αντιπροσώπων ψήφισε τις πιο κάτω τροποποιήσεις στον Περί Βεβαιώσεων και Εισπράξεων Νόμο. Ο Περί Βεβαιώσεων και Εισπράξεων Νόμος Οι τροποποιήσεις τίθενται σε εφαρμογή από 1 Ιανουαρίου 2013: Ο υπολογισμός και πληρωμή της Προσωρινής Φορολογίας των εταιρειών και αυτοτελώς εργαζομένων θα γίνεται σε δύο δόσεις αντί τρεις που ισχύει μέχρι σήμερα. Η πρώτη δόση…

The following income tax amendments took place by the new law voted from the House of Representatives on 15 November 2012. Law of the Assessment and Collection of Taxes From 1 January 2013 the following amendments will be in force: Provisional tax instalments made by companies and self-employed individuals are reduced from three per year to two (31 July and…