In line with developments at G20/OECD/EU level the definition of qualifying IP is expected to be narrowed as from 1st July 2016. It is expected that IP benefiting from the Cyprus IP Box prior to 1st July 2016 should continue to be eligible to benefit for a further period of 5 years i.e. until 30th June 2021.
The OECD also recommends that for enhanced transparency purposes IP joining existing IP Boxes and benefiting from the transitional rules are subject to exchange of information between Tax Authorities