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Cyprus has become an attractive option for companies and
individuals. Advantageous tax incentives exist and Cyprus is
popular as both a corporate and residential location, offering a
sound infrastructure, and also enviable weather.
The non-domicile status in Cyprus offers a number of additional
benefits to high net worth individuals, who are not domiciled in
Cyprus. The regime offers additional financial incentives for
individuals to consider Cyprus as an attractive destination for
residence.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
On April 3, 2024, the Cyprus Tax Department published a new set of FAQs (from 17 to 24), aimed at clarifying specific aspects of Articles 33 and 33C of the Income Tax Law (ITL).
Cyprus has an extensive network of double tax treaties with various countries, which can help in reducing or eliminating double taxation. Take advantage of these treaties to minimize your tax liabilities.
When issuing invoices for both EU and non-EU transactions, there are specific VAT rules that your Cyprus company needs to be aware of to ensure compliance.
Following the publication in the Government Gazette on 12 April 2024 of Law N.45(I)/2024, increased capital allowances will be granted on capital expenditure incurred during the tax years 2023-2026 ...
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