ARTICLES  

Cyprus - Andorra Double Tax Treaty

The double tax treaty with Andorra which was signed on 18 May 2018 will come into effect on 1st January 2020.

The main provisions of the treaty are as follows: -

  • Dividends, interest and royalties - no withholding tax will be levied on dividend interest or royalty payments.
  • Capital gains – Cyprus retains the exclusive taxing rights on disposal of shares made by Cyprus tax residents, with some exceptions.
  • Principal purpose test (PPT) – the treaty incorporates the BEPS project action 6 which provides that a benefit under the treaty shall not be granted if obtaining that benefit was one of the principal purposes of the arrangement or the transaction taking place.

Latest news

Extension to the filing date of tax returns

The following deadlines have been extended by the Cyprus government for the filing of tax returns by companies and individuals: The last date for the filing of an individual's tax return (IR1) for the year 2020 and settlement of any tax due will be 30 September 2021 without the imp...…

Published: Saturday 24 April, 2021

Extension for filing of corporate tax returns

On 12 March 2021 the Tax Department issued an announcement in relation to the extension of the deadlines for the submission of the 2019 corporate income tax return and the 2019 income tax return filed by individuals preparing audited Financial Statements. The above deadlines are extended to 30 Se...…

Published: Saturday 27 March, 2021

Interest and dividends – declarations through Taxisnet

There are new declarations on Taxisnet through which Special Defence Contributions and GESY should be recorded on the payment of interest and dividends. The printed forms 61AT and 61AM are now also available in electronic form and can be submitted through the Taxisnet as follows: …

Published: Wednesday 27 January, 2021