Rules for exchange of information

EU: Rules for tax authorities to exchange information beginning 2016

Directive on Administrative Cooperation

The European Commission today announced new rules to ease the exchange of financial information by tax authorities of the EU Member States, thus allowing for tax transparency and cooperation. With these new rules, there are now practical arrangements in place for entry into application of the amended ‘Directive on Administrative Cooperation’ from 1 January 2016.

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Tax changes in our tax legislation – 9th July 2015

On 9 July 2015, the House of Representative enacted into laws a number of significant tax law proposals which were published in the Cyprus Government Gazette on 16 July 2015. The amendments to the Cyprus Tax Legislation are in an effort to improve the framework of the Cyprus tax system and improve Cyprus’ competitiveness in attracting foreign investments.

We briefly outline below the main provisions with respect to the various tax law amendments:

  • Income Tax Law
  • Capital Gains Tax Law
  • Special Contribution for Defence Law
  • Department of Lands and Surveys (Levy and Duties) Law

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