Blog

UBO PUBLIC REGISTRY IN CYPRUS & FIFTH AML DIRECTIVE

On 16 December 2020, the Cyprus Council of Ministers, on the basis of a relevant proposal of the "Advisory Authority for Combating Money Laundering and Terrorist Financing", decided to:

Tax Alert – Cyprus tax legislation amendment for extending the application of Article 8(21) of the Cyprus Income Tax Law

On 15 December 2020 amending law No.7, which amends Article 8(21) of the Cyprus Income Tax Law, was published in the Cyprus Government Gazette.

Tax Alert – Cyprus tax legislation amendment for extending the application of the debt restructuring provisions to 31 December 2021

On 3 December 2020 the Cyprus Parliament voted for the extension of relevant tax provisions of the Cyprus tax legislation with respect to the debt restructurings.

Companies House Alert – Annual Levy 2020 for Companies – Payment deadline 31st December 2020

With reference to the above subject, we would like to remind you that all companies incorporated in Cyprus, irrespective of whether there are active or not or have assets or not, are subject to a €350 levy per annum which is normally payable by 30 June of each year.

Tax Alert – Deemed Dividend Distribution 2020 – Payment deadline 31st January 2021

Every Cyprus tax resident company must declare, at least, the 70% of its accounting profits for the year 2018 by 31 December 2020 and pay the Special Contribution for Defence of 17% and National Health Contribution of 2,65% by 31^st January 2021.