News

Automatic Town Planning Certificate for Low-Risk Constructions As of today, October 2, 2024, the Minister of Interior's Decree concerning the "automatic" issuance of town planning certificates for low-risk developments comes into effect. According to the relevant...

Risks associated with investing in properties in the occupied part of Cyprus The so called “Turkish Republic of Northern Cyprus” ( the “TRNC”) is a self-declared state that comprises the north-eastern portion of the island of Cyprus, following the military invasion of...

Naturalisation (Citizenship) in Cyprus: New Legislation On the 30th of November 2023, an amendment to the Civil Registry Law (the “Law”) was voted by the Parliament and came into force on 19/12/2023. The amendment of the Law includes provisions allowing highly skilled...

Tax Department Releases Updated Thresholds for Transfer Pricing Documentation The Tax Department (TD) on 1st February 2024, has issued an announcement outlining revised thresholds for the preparation of a Local File for the tax year 2022. The full newsletter is...

Cyprus enacts law implementing tax transparency rules for reporting digital platform operators DAC 7, outlined in Legal Notice 8 of 2023, implemented on 20 January 2023, incorporates the seventh update to Council Directive 2011/16/EU on taxation cooperation into...

On 08 June 2023, the House of Representatives passed a bill amending the current legislative framework allowingfor a reduced VAT rate of 5% levied on first homes on the Value Added Tax Law 119(I) of 2016 (the "Law"). The new amendment of the Law is subject now to the...