The Cyprus Ministry of External Affairs and Ministry of Finance have announced that the internal procedures required for the ratification of the DTAA with Latvia are completed and the DTAA are considered effective as of 1 January 2017. The DTAA is based on the OECD (Organization for Economic Co-operation and Development) Model Convention and is expected to further improve the…

The meaning of the reformThe positive meanings of the reform are as follows: 1)    Realize a complete coverage of the VAT for goods and services, basic to eliminate double taxation.2)    Bring the real estate into the deduction, to achieve a consumption-based value-added tax   system.3)    In a further reduction of the tax burden on enterprises.4)    Create a more fairly and neutral…

The Reanda International network is pleased to bring to you the latest issue 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. Please click here to download a digital copy of the 4th quarter 2016 issue…

Dear Valued Clients / Associates, Reanda Cyprus Limited, a Cyprus member firm of Reanda International network, is pleased to inform you that the Doing Business in China Guide (Chinese/English) prepared by our fellow China member firm is now published online in the website of Reanda international. The publication, meticulously crafted and tailored for the interest of foreign individuals/enterprises investing in…

The revised DTAA between Cyprus and India, as announced on November 18, was published in Cyprus’ Gazette on 25 November 2016 and will replace the existing treaty which was concluded back in 1994. No changes have been observed on the withholding tax rates on dividends and interest, which remain at 10% (some exemptions apply). It is worth noting that neither…

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 year2. 31 December - current year If the Company fails to do so by submitting the IR6 declarations and its operations result…