by Ulrika Lomas, Tax-News.com, Brussels 28 September 2018 The Cyprus Tax Department has released a notice on the obligation on Cypriot constituent entities of multinational groups to file a CbC report in Cyprus where the ultimate parent entity files in a territory without an exchange of information arrangement with Cyprus. The Department noted that providing […]
by Amanda Banks, Tax-News.com, London 03 May 2018 Cyprus’s Department of Taxation said recently that it will accept only electronic payment for the main tax heads from June 1, 2018. Earlier, the tax agency introduced mandatory electronic payment for pay as you earn (PAYE) income tax, from March 1, 2018. The change applies to PAYE […]
by Ulrika Lomas, Tax-News.com, Brussels 19 March 2018 The number of advance pricing agreements between EU member states and companies rose by 64 percent from 2015 to 2016, according to research by Eurodad. Eurodad, a coalition of non-government organizations, said that the number of unilateral agreements in place in EU countries increased from 1,252 at […]
by Ulrika Lomas, Tax-News.com, Brussels 08 March 2018 The European Commission has sent letters of formal notice to Cyprus, Greece, and Malta for not levying the correct amount of value-added tax (VAT) on yachts. Specifically, the infringement procedures launched on March 8 concern: First, the reduced VAT base for the lease of yachts offered via […]
by Jason Gorringe, Tax-News.com, London 04 January 2018 Cyprus’s Ministry of Finance says the island has signed a double tax agreement with Saudi Arabia with respect to taxes on income and for the prevention of tax evasion. The agreement was signed on January 3, 2018, in Riyadh during an official visit of the President of […]
by Ulrika Lomas, Tax-News.com, Brussels 27 December 2017 The European Commission has released the 2017 edition of its survey of Tax Policies in the European Union, looking at the reforms undertaken by EU member states during the year. As well as looking at EU and international trends, the report evaluates national tax systems’ performance against […]
by Jason Gorringe, Tax-News.com, London 14 December 2017 The Cypriot tax authority has extended until January 15, 2018, the deadline for multinational corporations to submit their notifications concerning country-by-country reporting for 2017. The deadline had been December 31. In December 2016, Cyprus issued a decree introducing CbC reporting obligations for multinational enterprises with consolidated group […]
by Ulrika Lomas, Tax-News.com, Brussels 12 December 2017 The European Commission has warned taxpayers in Europe of letters being sent by fraudsters bearing its name and demanding the payment of tax not due. The Commission said that the scam letters inform citizens of the existence of an outstanding tax debt, seek immediate payment, and threaten […]
By Steve Bailey, FCCA – Director Medius Consulting Day in, day out, we read, hear and see breakthroughs that are changing the way we live and work. Examples are wide ranging– the Apple iPhone X, the internet of things and treatments that have dramatically increased the survival rates from disease, not to mention the ubiquitous […]
By Jason Piper, ACCA’s Senior Manager, Tax and Business Law – Professional Insights At the European Commission’s 2011 Conference on the future of company law in Europe, Michel Barnier (whatever happened to him?) warned of the dangers of sterile academic discussion of legal forms while entrepreneurs simply go out and do things, and in the […]
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