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.

Watch the video with Russian subtitles

In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1 Tax bill to allow interest payable for fully serviced loans, granted for principal residence purposes

1. 2 Tax bill to revise the Stamp Duty Law

1. 3 Tax Department announcement on Country by Country Reporting (CbCR)

2. International developments

2. 1 OECD press release on preferential regime reviews

3. Tax diary for December 2018

31 December 2018

- Filing of revised provisional tax return (where applicable) and payment of the 2nd instalment of the 2018 provisional tax

- Payment of SDC on rents, dividends and interest from sources outside Cyprus for the last 6 months of 2018

- Payment of the 3rd instalment of the premium tax by insurance companies (life business) for 2018

- Filing all tax returns due to qualify for the relief scheme from interest and penalties

- Filing of CbC Reports for 2017 & CbC Notifications for 2018

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.