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Category: Tax Law

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Property Tax
Real Estate, Tax Law

The Impact of Spain’s Possible 100% Property Tax Hike on Non-EU Residents: Potential Impact for British Expats and the Proposition of Cyprus

29 January 20255 February 2025Michalis C. Zambartascapital gains, Cyprus, inheritance, property, Spain

Spain is experiencing a housing crisis. Shortages and rising housing prices are believed to be caused by foreign buyers and mass tourism hence recently large protests were held against tourists
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Tax Law

Cyprus – Extension of Deadline on Submission of Personal Income Tax Declaration and Payment for the Year 2023

30 October 202430 October 2024Michalis C. ZambartasCyprus, declaration, payment, tax department

Following the decision of the Council of Ministers, the Tax Department announced today, 30 October 2024, that the deadline to submit personal income tax declarations for the year 2023 and
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VAT
Government of Cyprus, Tax Law

Cyprus to Proceed with Tax Reform Project

9 October 202318 October 2023Michalis C. ZambartasCypERC, Integrated Tax Transformation System, Makis Keravnos, Minister of Cyprus, tax reform

On September 29, 2023, Cyprus Minister of Finance Mr Makis Keravnos announced the tax reform project of Cyprus, the “Integrated Tax Transformation Project”. In his speech, the Minister emphasized that
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Tax Law, VAT

Cyprus Changing its Regime on Reduced VAT for First Homes: an Update

28 March 202328 March 2023Michalis C. Zambartas5% reduced VAT, Cyprus, EU Commission, First home, Reduced VAT, VAT, VAT regime

The newly formed Cyprus Government and the House of Representatives reached an informal agreement to resolve the issue of the imposition of a reduced VAT rate of 5% for the
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VAT
Government, Tax Law

Cyprus Introduces a New Computerised Unified Tax Management System “Tax for All”

17 March 202327 March 2023Michalis C. ZambartasCyprus, direct taxation, Tax for All, tax management system, Taxisnet, TFA, VAT, VIES

On 17 January 2023, the Tax Department of Cyprus announced the replacement of the TAXISnet platform and other smaller tax platforms with the new unified tax management system “Tax For
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Global minimum tax at 15%
International Tax, Tax Law

Agreement Reached on The Global Minimum Tax Rate of 15%

1 November 20212 November 2021Michalis C. Zambartas15%, agreement, BEPS, G20, global minimum tax, global tax, global tax reform, international tax, MNEs, multilateral convention, OECD

The global minimum corporate tax rate of 15% has been agreed upon by 136 nations. Following years of intensive work and negotiations to bring the international tax rules into the
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VAT
Government of Cyprus, Tax Law

Significant Tax Reforms are on the Way in Cyprus

3 September 20213 September 2021Michalis C. Zambartascorporate income tax, Cyprus, Cyprus tax law, Minister of Finance, tax law, tax reform

In an interesting interview on the 29 August 2021 with Politis Newspaper, the Minister of Finance Constantinos Petrides announced that Cyprus will soon implement extensive tax reforms. From the interview
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Cyprus - Holland
Government, Government of Cyprus, International Tax, Tax Law

Cyprus and the Kingdom of the Netherlands Sign Double Tax Treaty on Income and Capital

1 June 20211 June 2021Michalis C. Zambartasavoidance of double taxation, capital, Cyprus, Double Tax Treaty, DTT, income, The Netherlands

Today, June 1st, 2021, the Republic of Cyprus and the Kingdom of the Netherlands finally signed the double tax treaty for the avoidance of double taxation and prevention of tax
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VAT Payment Cyprus
Government, Government of Cyprus, Tax Law, VAT

Deferred VAT Payments can be made in Installments

4 November 20208 November 2020Michalis C. ZambartasCOVID-19, Cyprus, government, indirect tax, VAT

As part of the Cypriot Government measures to reduce the impact of the COVID 19, in accordance with Law 147 (I) / 2020, tax payers were originally given the right
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Brexit
Banking Law, Company Law, Compliance, International Tax, Tax Law

Cyprus – A Possible New Home for the UK Financial Services Industry

7 October 20207 October 2020Michalis C. ZambartasBrexit, Cyprus, ESMA, FCA, financialservices, relocate, UK1 Comment

Despite the fact that the United Kingdom has its own regulatory authorities such as the Financial Conduct Authority (FCA), the core regulation of the financial industry in the UK is
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Recent Posts

  • Cyprus – Companies without Postal Codes will be Stricken-Off from the Registry
  • The Impact of Spain’s Possible 100% Property Tax Hike on Non-EU Residents: Potential Impact for British Expats and the Proposition of Cyprus
  • Cyprus Implements Global Minimum Tax for Multinational Enterprises and Large Domestic Groups
  • Updated Startup Visa Scheme in Cyprus
  • UBO Register: Extended Submission Deadline Approaching

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