Cyprus: National Insurance

On 8 December 2024, the Republic of Cyprus and the Government of the Sultanate of Oman signed a new Double Taxation Agreement (DTA) aimed at preventing double taxation...

In recent years, Cyprus has emerged as one of the most attractive jurisdictions in the European Union for individuals and businesses seeking tax efficiency, legal certainty, and access to international markets. With a robust regulatory framework, English-speaking professionals, and a highly competitive tax system, Cyprus offers a compelling package for entrepreneurs, investors, and multinational groups alike.

During the recent years there have been several key developments around the world in relation to the application of the double tax treaties and international taxation in general.

As Cyprus continues to attract global investors and professionals seeking a stable and vibrant European base, the Cyprus Permanent Residency Program remains a cornerstone for those looking to establish a foothold in the Mediterranean.

Cyprus has established itself as a leading jurisdiction for wealth management and asset protection, particularly for ultra-high-net-worth individuals (UHNWIs).

In 2024, an unprecedented number of high-net-worth individuals left the UK, seeking refuge from the restrictive tax changes imposed by the Labour Party.

As Cyprus continues to attract global investors and professionals seeking a stable and vibrant European base, the Cyprus Permanent Residency Program remains a cornerstone for those looking to establish a foothold in the Mediterranean.

Submission of 2024 Personal Income Tax Return (TD1) in Cyprus...

The Cyprus Tax Department has announced that the 2024 Individual Income Tax Return (Form IR1) is now available for online submission via the TaxisNet system.

During the recent years there have been several key developments around the world in relation to the application of the double tax treaties and international taxation in general.

The UAE introduced Transfer Pricing ("TP") regulations as part of its Corporate Tax Law under Federal Decree-Law No. 47 of 2022, which applies to tax periods starting on or after 1 June 2023.

On 12 February 2025, the Cyprus Tax Department ("CTD") announced that, by decision of the Commissioner of Taxation, no administrative fines will be imposed on taxpayers for late submission of the Income Tax Return ("TD4") and the Table of Summarized Information ("TSI") for the tax year 2022, provided that the filing is completed by 31 May 2025.