The tax relief for investors in qualifying small and medium-sized innovative enterprises was approved by the Parliament on 2 December 2016 and entered into force on 1 January 2017. The provisions are included in the new section 9A of the Income Tax Law and aim to foster investments in start-up companies and innovative companies in […]
Cyprus – Russian Double Tax Treaty Update 26 December 2016
An agreement has been reached between Russian and Cypriot authorities to suspend the taxation of profits from the sale of shares of companies deriving more than 50% of their value from immovable property located in Russia. On 29 December 2016 the Cyprus Ministry of Finance announced that an agreement has been reached between Cyprus and […]
New Cyprus-India Double Tax Treaty
On 18 November 2016 Cyprus and India signed a new agreement for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income (DTT). The new DTT replaces the previous double tax treaty concluded between the two countries in 1994. The new agreement was ratified by Cyprus and published in […]
Moody’s upgrades outlook for Cypriot banks
Moody’s Investors Service has changed its outlook on the Cypriot banking system to positive from stable, reflecting the rating agency’s view that the country’s economic recovery will restore banks to profitability and improve their weak asset quality. The outlook expresses Moody’s expectation of how bank credit-worthiness will evolve in Cyprus over the next 12-18 months. […]