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LEGAL UPDATES
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09.07.2015
Approved amendments on tax legislation
Taxation Law

A legislative package comprising three bills of law that amend existing tax legislation was approved on July 9, in an effort to further improve and modernise the existing legislative framework. 

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09.07.2015
Amendments to the Department of Land and Surveys (Fees and Charges) Law provide for a 50% lower transfer fee on the sale of immovable property
Real Estate Law, Taxation Law

In an effort to attract new investments and promote development in the constructions sector, the Parliament approved an amendment to the Department of Land and Surveys (Fees and Charges) Law that provides for a 50% reduction of the transfer fees payable on the sale of immovable property and the registration of leases or subleases that shall take place until the end of December 2016.

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06.07.2015
The “Administrative Cooperation in the Field of Taxation (Amendment) Law of 2015”
Taxation Law

The Administrative Cooperation in the Field of Taxation Law, 205 of 2012, was amended for purposes of better regulation in line with EU Directive 2011/16.

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04.12.2014
CYPRUS – USA Intergovernmental Agreement on FATCA implementation
Taxation Law

On 2 December 2014, Cyprus signed a Model 1 Intergovernmental Agreement (IGA) with the US government on the implementation of the Foreign Accounts Tax Compliance Act (FATCA).

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14.11.2014
Cyprus - Iceland double tax treaty enters into force
Taxation Law

On 13 November 2014, Cyprus signed and ratified a Treaty for the avoidance of Double Taxation with Iceland, with respect to Taxes on Income.

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