The Cyprus House of Representatives reportedly approved the Law on a Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups on 12 December 2024. This legislation implements Council Directive (EU)

Oman’s government has announced on 8 December 2024 that it signed an income tax treaty with Cyprus. The agreement was signed on behalf of the Government of Oman by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, while it was signed on

Cyprus tax authority has reminded taxpayers the deadline for submitting a revised provisional tax calculation (if applicable) and making the second provisional tax payment for the 2024 tax year is 31 December 2024. Taxpayers whose taxable income

The Cyprus Tax Department has issued a notice on 19 November 2024, outlining the anticipated effective date for the agreement on exchanging Country-by-Country (CbC) reports with the US as well as related local filing requirements. The Cyprus Tax

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

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