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Category: Tax



in 2020, Tax, Updates

We are proud to announce that Yiallourides & Partners LTD has established an association with TPAC LTD a company specialising in transfer pricing studies (TPS), with Mr. Panikos N. Tsiailis FCCA as the managing director. TPAC will be working in close cooperation with our tax team.

To read the full announcement, please click here.

EU Anti-Tax Avoidance Directive

Cyprus implements the legislation of the EU Anti-Tax Avoidance Directive

in 2019, 2019, Law, Tax


On the 5th of April 2019, the House of Representatives approved the proposed legislation (the Law) implementing the provisions of the European Union Anti-Tax Avoidance Directive (ATAD or Directive). The new Law will come into force once it is published in the Official Gazette of the Republic. The provisions of the Law shall be effective as of 1 January 2019 (i.e. from the tax year 2019 onwards).

The Law introduces the below:

  • Interest limitation rules
  • CFC rules
  • General Anti-abuse rule (GAAR).

The second phase of the implementation of the Directive concerning the exit taxation provisions and the Hybrid mismatch rules will be effective as of 1 January 2020.

The first implementation of the ATAD Law impacts only Cyprus Corporate Income Tax payers and more specifically Cyprus Tax Resident Companies and Cyprus Permanent Establishments (PEs) of non-Cyprus Tax Resident Companies.

For more information, please click here.


Tax Calendar 2019

in 2019, Tax

A useful guide for tax payment deadlines and other filing obligations for the Year 2019. For more info click here.


Social Security and National Health System (GESY)

in 2019, Tax

As from the 1st of January 2019 the Social Insurance fund contributions have been increased and as from the 1st of March 2019 a new contribution will be introduced for GESY – National Health System.

For more information, please click here.



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, please click here.