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Cyprus The Country

Cyprus is a beautiful island with developed infrastructure and sound, business friendly financial practices, situated in the crossroads of Europe, Asia and Africa in the Eastern Mediterranean basin. Advantages of Cyprus Cyprus has traditionally been an attractive international financial services centre, combining a convenient location amongst three continents, advantageous tax rates, financial stability and credibility as well as a wide network of international treaties for the avoidance of double taxation. European & Eurozone Member State Cyprus joined the European Union as a ...

Cyprus companies

Company formation The most common vehicle used for businesses is a company limited by shares. A new Cypriot company can be incorporated by our Office within 2 weeks. Certain information on the beneficial owner should be submitted to our Office. For details and request to form a Cypriot company, please refer to: Register an IBC Cyprus companies are governed by the Cyprus Company Law, Chapter 113 which is based on English law as amended to comply with the European Union requirements. They can be registered within a week from the date an application for approval is filed together with the ...

Cyprus Tax

Corporation Tax Cyprus tax resident companies are taxed at 12,5% from 1 January 2013 (previously at 10%) on their profits from all sources both in Cyprus and abroad. A company is tax resident in Cyprus if it is managed and controlled from Cyprus. The criteria of management and control are fulfilled if the company is owned by Cyprus tax residents, the majority of the Board are Cyprus tax residents and the company has an Office in Cyprus Income exempt from corporation tax: -Profits from the disposal of securities -Dividend income -Interest (not from ordinary activities) Left ...

Value Added Tax

Value Added Tax (VAT) is imposed on the provision of goods and services in Cyprus, on the acquisition of goods from the European Union and on the importation of goods into Cyprus. As from 13 January 2013 the standard rate of VAT is 19% Submission of VAT returns and payment of VAT or claim for refund is made quarterly, 40 days after the end of the VAT period whilst the submission of the VIES returns must be made on the 15th of each month ...

Tax Calendar

Date Obligation 31 January Declaration of Deemed Dividend Distribution for the year ended 31 December two years ago. 31 March Electronic submission of Company’s tax returns. 30 April Final deadline for avoidance of 5% penalty for payment of corporation tax of the penultimate year, if not paid on 1 August of previous year. Submission of Personal Tax Declaration IR1. 30 June Payment of Defense Contribution Tax for first half of the year on rents and on dividends or interest from sources outside Cyprus. 31 July Electronic submission of employer’s return and ...

Bank holidays in Cyprus

1 January New Year’s Day Green Monday 25 March Greek Independence Day 1 April National Day Good Friday Easter Monday 1 May Labour Day Whit Monday 15 August Assumption Day 1 October Cyprus Independence Day 28 October Greek National Day 24 December Christmas Eve – Half Day 25 December Christmas Day 26 December Boxing Day 31 December New Year’s Eve – Half Day ...