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 December 2, 2024 On 21 November 2024, the Cyprus Parliament approved an amendment to the Prevention and Suppression of Money Laundering Activities Law. The legislation introduces a comprehensive framework for the enforcement of penalties related to beneficial ownership compliance, providing relief for businesses, especially small and medium-sized enterprises (SMEs). Key provisions of the Law Reduction […]

Cyprus AIRBNB accommodations: Everyone must register Cyprus: The Deputy Ministry of Tourism announces that all self-catering accommodations (on AIRBNB, BOOKING.COM and other platforms) should be registered in the relevant registry of the Deputy Ministry by 06/02/2023. According to the relevant legislation, in order to be able to advertise and/or rent the self-catering accommodation, applicants must

Deemed Dividend Distribution for the tax year 2019  We would like to remind you of the deemed dividend distribution (DDD) provisions of the Special Contribution for the Defence Law that relate to the tax year 2019. Profits subject to deemed dividend distribution Companies are deemed to have distributed to their resident shareholders 70% of their

Deadline for the electronic submission of the new Tax Forms for Special Defence Contribution (“SDC”) and General Healthcare System (“GHS”) contribution withheld on interest and dividend payments Based on the announcement issued by the Tax Department of Cyprus on 4 May 2021 in relation to tax forms T.D.602 and T.D.603, the electronic submission of the

The Cyprus UBO Registry to fight money laundering Recently the Government of Cyprus has taken additional steps to increase transparency in all transactions taking place in the country and fight money laundering. Cyprus aims to increase confidence in its legal and tax system and become a more desired destination for business activity. In doing so,