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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,

As part of the Government’s effort to improve the electronic services offered to taxpayers, the Tax Department has recently announced that as from the 1st of June 2018, the settlement of the following taxes can be effected only electronically through the JCCsmart website. Tax Code Description 0100 Income tax deducted from emoluments (PAYE) 0114 Reduction

Tax authorities are now eyeing short-term property rentals such as Airbnb which, due to loopholes in the law, are not subject to tax. .The matter was raised on Monday at the House finance committee, which discussed the leasing/renting of properties via online services. .Tax commissioner Yiannis Tsangaris said this income is not currently taxed. In