Transfer pricing documentation: A Crucial Element for Cyprus Businesses in 2024

Transfer pricing documentation

In the intricate world of international business, compliance with transfer pricing regulations is paramount. For companies operating in Cyprus, navigating the complexities of these regulations requires a comprehensive understanding of transfer pricing documentation. In this article, we delve into the key aspects of transfer pricing documentation in Cyprus, shedding light on its significance, requirements, and […]

Transfer Pricing Mistakes in Cyprus

Transfer pricing mistakes Cyprus

Transfer pricing, a critical aspect of international business transactions, plays a pivotal role in determining how profits and costs are distributed among affiliated entities in different jurisdictions. In the context of Cyprus, a thriving business hub, the importance of accurate transfer pricing cannot be overstated. This article explores the nuances of transfer pricing in Cyprus, […]

Cyprus International Tax Challenges: Cyprus as a Strategic Hub

Cyprus international tax challenges

In the realm of international business, understanding the intricacies of taxation is paramount. Cyprus, with its strategic location, favorable tax regime, and robust legal framework, has emerged as a key player in facilitating global business transactions. This article delves into the world of Cyprus international tax, exploring its benefits, challenges, and key considerations for businesses […]

Recent Tax Reforms on Businesses in Cyprus

Recent tax reforms Cyprus

In the ever-evolving landscape of international finance, staying informed about tax reforms is crucial for businesses aiming to optimize their financial strategies. Cyprus, known for its favorable tax environment, has recently implemented noteworthy reforms. This article explores the latest tax changes in Cyprus, their implications, and how businesses can adapt to ensure compliance and financial […]

Tax Planning in Cyprus: Strategies for Financial Optimization

Tax Planning Cyprus

In the dynamic landscape of international business, effective tax planning is a key factor in optimizing financial strategies. Cyprus, renowned for its favorable tax environment, offers businesses a platform for strategic tax planning. This article delves into the nuances of tax planning in Cyprus, exploring the benefits, considerations, and actionable strategies for businesses seeking to […]

Transfer Pricing Rules for International Business Cyprus

Transfer Pricing Rules

In the world of international business, understanding transfer pricing is key. It’s about setting fair prices for goods, services, and ideas when different parts of a big company work together. Cyprus is a top choice for many international businesses, thanks to its great location and low taxes. So, what are the transfer pricing rules in […]

Transfer pricing circular:low value transactions

Transfer pricing circular

Overview Transfer pricing circular On 6 July 2023 a new circular was issued by the Tax Commissioner providing further guidance on the applicability of Transfer Pricing (TP) Legislation effective as of 1 January 2022. The clarifying circular specifies the ‘simplification measures’ on categories of controlled transactions that are exempted from the obligation to be documented […]

Amendment of 50% tax exemption on employment income

tax exemption

Overview On 30 June 2023, the amendment of the Cyprus Income Tax Law (‘’ITL’’) relating to Article 8(23A) was published in the Official Gazette of the Republic of Cyprus. Previous Article 23(A) before the amendment Based on the previous Article 23(A) of the ITL, which entered into force from 1st January 2022, a 50% exemption […]

Transfer Pricing update: Termination

Transfer Pricing

Overview of abandoned main circular On 30 June 2017, the Cyprus Tax Authorities (”CTA”) issued circular no.3 in respect of back-to-back financing arrangements. Based on the Circular, Cyprus companies would have the option to either adopt simplification rules (e.g. the recognition of the net profit margin of 2%) subject to justification through functional analysis or […]

Clarifications – Articles 8(21A)

Clarifications in respect of the application of Articles 8(21A) and 8(23A) of the Cyprus Income Tax Law On 1 November 2022, the Cyprus Tax Department of the Ministry of Finance issued the Circular no. 10/2022 in respect of the part exemption from income tax of the remuneration regarding the first employment exercised in Cyprus. The […]