The Income Tax Treaty between Cyprus and India entered into force on 16 December 2016. The agreement was signed in November 18, 2015. The treaty generally applies from 1 January 2017 for Cyprus and from 1 April 2017 for India.
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The Central Board of Direct Taxes (CBDT) has accomplished a landmark achievement by finalizing a record 125 Advance Pricing Agreements (APAs) during the fiscal year 2023-24 with Indian taxpayers. This figure includes 86 Unilateral APAs (UAPAs) and
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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 7 March 2024, the Central Board of Direct Taxes (CBDT) of India released Notification No. 28/2024, delineating regulations for exempting certain payments to a "Unit" within an International Financial Services Centre (IFSC) from withholding tax.
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
Read More The Central Board of Direct Taxes (CBDT) in India has released the Finance Act 2024, passed on 15 February 2024, to execute the provisions of the Union Budget for 2024-2025. The finance Act includes the following key tax measures: The criteria
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