Category: 2018



in 2018, Tax

A new double tax treaty with the United Kingdom has been signed on the 22nd of March 2018. All necessary steps have been performed by both countries and the treaty is effective since 18 July 2018. The new treaty is expected to strengthen and further develop the economic relations between the two countries. This treaty will come to replace the existing treaty between Cyprus and the United Kingdom which was signed in Nicosia on the 20th of June 1974 and came into effect on the 18th of March 1975.

For the main summarized provisions of the treaty, pleaseĀ click here.


VAT changes on Land & Leasehold property

in 2018, VAT

On the 3rd of November and 29th of December 2017, the House of Parliament voted the amendment of the Cyprus VAT Legislation regarding the taxation of building land, in order to align it with the provisions of EU VAT Directive.

The amendments relate to (1) the imposition of 19% VAT on the sale of building land, (2) the taxation of new commercial immovable property leasing contracts and (3) the application of reverse charge on transactions relating to transfers of immovable property during the process of loan restructuring.

For more details regarding the amendments voted, please click here.


Tax Calendar 2018

in 2018, Tax

A useful guide for tax payment deadlines and other filing obligations for the Year 2018. For more info click here