Personal income tax in Cyprus
Cyprus Personal Income Tax is imposed on the global income (accruing or arising from sources both within and outside Cyprus) of Cyprus tax resident individuals. Non-Cyprus tax residents are taxed only on specific types of income accruing or arising only from sources within Cyprus (e.g. rental income from real estate property located in Cyprus). Below...
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CYPRUS Intends To Espouse OECD Transfer Pricing Guidelines
There is no denying that transfer pricing is considered as one of the essential issues confronted by multinational corporations. For companies, it is a major tax issue. In Europe, Cyprus has become the last nation to execute the rules of transfer pricing in a scenario where base erosion and profit shifting (BEPS) problems are in...
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Switzerland and Cyprus Tax Treaty
Recently, Switzerland and Cyprus signed a new protocol for the purpose of amending the current tax treaty between the two nations. Alterations to the tax treaty  The new protocol signed between the countries includes, along with various other things, the minimum required standards of the BEPS actions of the OECD, associated with the bilateral agreements,...
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Historic minimum tax rate OECD agreement
Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023, thanks to a major reform of the international tax system finalised on October 8, 2021, at the OECD. The historic agreement, signed by 136 countries and jurisdictions representing over 90% of global GDP, will also reallocate more than USD 125 billion...
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