Cyprus: Tax authority publishes ten-year government bond’s yield rates

28 February, 2018

On 14 February 2018, tax department published ten-year government bond’s yield rates by an announcement for the countries of Cyprus, Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, United Arab Emirates and United Kingdom as at 31 December 2016, the relevant date for tax year 2017.

The NID interest rate is defined as the yield on 10-year government bonds (as at 31 December of the prior tax year) of the country where the funds are employed in the business of the company plus a 3% premium. NID is deducted from the taxable income of the company for the relevant tax year (subject to any restrictions) for the period of time within the tax year during which the equity belongs to the company and is used by that company for the carrying on of its activities.

Cyprus

«

Previous post
Singapore: IRA releases revised transfer pricing guidelines

Next post
South Africa: Finance Minister presents the Budget for 2018

»

Cyprus announces temporary 0% VAT rate on essential items

November 04, 2024

The Cyprus Council of Ministers passed Decree No. 349/2024 on 31 October 2024. The Decree amends the VAT law to introduce a temporary zero VAT rate on certain essential items. The zero VAT rate will apply to basic essentials such as baby and

Cyprus extends 2022, 2023 income tax returns deadlines for select taxpayers

October 31, 2024

The Cyprus Tax Department (CTD) announced, on 25 October 2024, that the submission deadlines of income tax declarations for 2022 and 2023 have been extended. The income tax return for the year 2022 has been extended until 28 February 2025 and the

Cyprus revises transfer pricing FAQs

October 14, 2024

The Cyprus Tax Department announced that it updated its Frequently Asked Questions (FAQs) (English version) on transfer pricing on 24 September 2024. New questions are added from 25 through 43. The main question is 25, which highlights that

European Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive

October 07, 2024

The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of

Cyprus sets deadline for ultimate beneficial owners information

October 01, 2024

The Department of Registrar of Companies and Intellectual Property (DRCIP) of Cyprus has declared that all companies and partnerships registered under the Companies Law, including European Public Limited Liability Companies, should log into the UBO

Cyprus publishes FAQs on new transfer pricing rules

September 27, 2024

The tax authority has published additional frequently asked questions (FAQs) numbered 25 – 43 to provide clarity on specific provisions of the new transfer pricing rules in Cyprus. Notably, FAQ 25 clarifies that taxpayers do not need to