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LEGAL UPDATES
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Imposition of Special Levy on Stock Exchange Transactions (Amendment) Law of 2012
29.06.2012
Area(s) of Practice: Taxation Law

Imposition of Special Levy on Stock Exchange Transactions (Amendment) Law of 2012

Following an amendment to Section 8 of the law (Law 161(I)/1999 as amended), it is now provided that its provisions shall be valid until 31 December 2013 (instead of 30 June 2012 provided prior to the amendment). According to the law, a special levy of 0,15% is imposed on all transactions entered into or announced to the Cyprus Stock Exchange. The levy is paid by the seller to the Cyprus Stock Exchange that pays the levy to the Accountant General of the Republic.

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