The South African parliament ratified the amending protocol between Cyprus and South Africa on May 20, 2015. The treaty was signed on 1 April 2015. The protocol modifies the Cyprus – South Africa Income and Capital Tax Treaty (1997).
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On 28 March 2024, the Cyprus Tax Department released the updated version of its English-language Frequently Asked Questions (FAQs) on transfer pricing. The FAQs present the questions and the corresponding answers as published on the Tax
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On 8 March 2024, the South African Revenue Service (SARS) released guide for claiming this benefit under the new Section 6C of the Income Tax Act. South African residents can now claim a tax credit for installing brand new solar panels on their
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On 6 March 2024, the South African Revenue Service (SARS) published online the tax court Judgment concerning Case No. IT 14302, providing clarification on how the arm’s length principle is applied in transactions involving related parties. The
Read More The Ministry of Finance of Cyprus has released the draft legislation, “The Safeguarding of a Global Minimum Level of Taxation of Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union Law of 2023". This draft legislation is
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On 7 March 2024, the Cyprus Tax Department announced the release of reference rates for 2024 that will be used to calculate the notional interest deduction (NID) on new equity investments. According to regulations, the NID rate is equivalent to the
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On 23 February 2024, the Cyprus Tax Department announced the extension of the deadline for submitting the annual income tax return and summary information table (SIT) for the 2022 tax year. According to the announcement, the deadline has been
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