Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1 Approval of the National Health Scheme law by the House of Representatives

1. 2 Proposed bill amending the Income tax law in relation to the definition of tax residence

1. 3 Notification under the Law Regulating the Settlement of Overdue Taxes

1. 4 Announcements of the Tax Department


2. International tax developments

2. 1 Approval of the Intellectual Property Framework

2. 2 Revised Decree on Country by Country reporting

2. 3 Signing of the Multilateral Convention Implementing BEPS measures

3. Tax Diary for July 2017

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.