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