Comparative Guides
Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.
Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.
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Results: 4 Answers
Corporate Tax
3.
Investment in capital assets
3.1
How is investment in capital assets treated – does tax treatment follow the accounts (eg, depreciation) or are there specific rules about the write-off for tax purposes of investment in capital assets?
 
Cyprus
Tax depreciation (ie, wear and tear allowances) may be offset against an entity’s taxable income. Tax depreciation is applied to the acquisition cost of the asset at a rate which depends on the type of asset.

For more information about this answer please contact: Charles Savva from C.Savva & Associates Ltd
3.2
Are there research and development credits or other tax incentives for investment?
 
Cyprus
The tax incentives available for research and development fall within the general exemption from taxation of profits generated from the exploitation of intellectual property.

In addition, other incentives are introduced from time to time, the latest being incentives for film production studios to undertake filming in Cyprus. Subject to conditions, various tax credits and benefits are available for production company under this scheme.

For more information about this answer please contact: Charles Savva from C.Savva & Associates Ltd
3.3
Are inventories subject to special tax or valuation rules?
 
Cyprus
There are no special tax rules for inventories. Their valuation for tax purposes follows the valuation in accordance with International Financial Reporting Standards.

For more information about this answer please contact: Charles Savva from C.Savva & Associates Ltd
3.4
Are derivatives subject to any specific tax rules?
 
Cyprus
No, the tax treatment of derivatives will depend on the underlying asset of the derivative.

For more information about this answer please contact: Charles Savva from C.Savva & Associates Ltd