Netherlands: Council of Ministers approves tax treaty between Curacao and Cyprus
The treaty seeks to eliminate double taxation and prevent tax evasion in cross-border transactions involving taxpayers from the Netherlands, Curacao, and Cyprus. The Netherlands Council of Ministers approved the first-ever income tax treaty
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Cyprus, Oman tax treaty enters into force
Cyprus and Oman’s first income tax treaty enters into force, effective 1 January 2026. The income tax treaty between Cyprus and Oman entered into force on 5 March 2025. Signed on 8 December 2024, the agreement is a first between the two
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Cyprus: DRCIP mandates submission of beneficial owner details in the registry by 31 December
Failure to comply with the deadline may result in financial penalties of up to EUR 5,000. The Cyprus Department of Registrar of Companies and Intellectual Property (DRCIP) mandated on 25 August 2025 that all companies established or registered
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Kenya, Cyprus negotiating income tax treaty
An income treaty from these negotiations will be the first between Kenya and Cyprus. Kenya’s Ministry of Foreign Affairs announced that officials from Kenya and Cyprus convened on 7 July 2025 to discuss strengthening bilateral relations,
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Cyprus announces VAT law amendments for virtual event supply rules
Amendments clarify that virtual participation in events is not "admission" for VAT purposes. For B2B, the place of supply is the recipient's location; for B2C, it is where the recipient resides, with VAT rules varying by region. Cyprus’ Council
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Cyprus ratifies tax treaty with Curacao
Cyprus has ratified its first-ever income tax treaty with Curacao on 9 May 2025. Signed on 23 April 2025, this is the first treaty between the two countries and aims to eliminate double taxation on income and prevent fiscal evasion between Cyprus
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Cyprus imposes new defensive tax rules on payments to low-tax and non-cooperative jurisdictions
Cyprus has published Laws No. 47(I)/2025 and No. 48(I)/2025 in the Official Gazette on 16 April 2025. These laws introduce updated defensive measures on outbound payments of dividends, interest, and royalties to non-cooperative or low-tax
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Cyprus, Curacao sign income tax treaty
The Cyprus Ministry of Finance has signed an income tax treaty with Curacao on 23 April 2025. The agreement aims to eliminate double taxation on income and prevent fiscal evasion between the two nations. The agreement is based on the OECD Model
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Cyprus issues VAT rules for unredeemed expired vouchers
The Cyprus tax department issued Circular 3/2025 on 8 April 2025 to clarify value added tax (VAT) rules for unredeemed expired vouchers. The Circular focuses on single-purpose and multi-purpose vouchers. Single-purpose vouchers: VAT on
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Netherlands: Council of Ministers approve tax treaty between Curacao and Cyprus
The Netherlands Council of Ministers has authorised the Minister of Foreign Affairs to sign an income tax treaty with Cyprus on behalf of Curacao on 4 April 2025. The DTA seeks to eliminate double taxation on income and prevent tax evasion or
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Cyprus offers VAT exemption to rental property owners
Cyprus’ Commissioner of Taxation published Circular 2/2025 on 24 March 2025, outlining guidelines for rental property owners who haven't opted to exempt their property from VAT. The circular is valid until 31 December 2025. In Cyprus, renting
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Oman ratifies income tax treaty with Cyprus
The Sultan of Oman issued a Royal Decree No. (23/2025) announcing the ratification of the income tax treaty with Cyprus on 3 March 2025. The agreement was signed on behalf of the Government of Oman by Nasser Khamis Al Jashmi, Chairman of the Tax
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Cyprus: Tax Reform Team announces tax reforms
The Cyprus Tax Reform Team presented its tax proposals to key stakeholders at the Presidential Palace on 26 February 2025. The proposals will soon be open for public consultation before being submitted to the Council of Ministers for approval and
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Kyrgyzstan approves tax treaty with Cyprus
Kyrgyzstan's Cabinet of Ministers has approved an income tax treaty with Cyprus on 28 January 2025 following negotiations that concluded in April 2024. The treaty aims to eliminate double taxation on income while preventing tax evasion and
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Cyprus issues 10-year bond yields for notional interest deduction
The Cyprus Tax Department announced, on 14 February 2025, the issuance of the 10-year government bond yield rates as of 31 December 2024 for various countries related to the Notional Interest Deduction (NID) on equity. These rates will determine
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Cyprus further extends deadlines for 2022 tax returns, transaction reports
The Cyprus Tax Department announced, on 12 February 2025, that it has further extended deadlines for submitting the annual company income tax return and the summary information table (SIT) on controlled transactions for the 2022 tax year. The
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Cyprus adopts public CbC reporting
Cyprus has published the Companies (Amendment) (No. 5) Law of 2024 in the Official Gazette on 6 December 2024, implementing the public Country-by-Country (CbC) under Directive (EU) 2021/2101 which establishes a reporting threshold for companies with
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Cyprus updates beneficial owners register framework
Cyprus’ Department of the Registrar of Companies and Intellectual Property (DRCIP) have announced several amendments to The Prevention and Suppression of Money Laundering (Amendment) (No. 2) Law of 2024, which was published on 6 December
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