TAX INFORMATION 2018

The information contained in this booklet is accurate as at the date of its publication. It is based on information available at that time and is designed to answer some of the commonly asked questions and in no case should substitute seeking professional advice.

For explanations, clarifications or professional advice please contact us to the following address:

PEK LTD
Chartered Certified Accountants 17 Demosthenis Severis Avenue Central court, 3rd floor
1080 Lefkosia
PO Box 28978
2084 Nicosia

Tel: +357 22 865000
Fax: +357 22 865001

TAX INFORMATION 7/2017

TAX INFORMATION 7/2017

Value Added Tax

On November 3rd, 2017, the House of Representatives passed amendments to the Law on Value Added Tax. Based on the amendments, 19% VAT is imposed.

PEK Ltd
Chartered Certified Accountants
17 Demosthenis Severis Avenue
Central court, 3rd floor
1080 Lefkosia
PO Box 28978
2084 Nicosia

Tel: +357 22 865000
Fax: +357 22 865001

E-mail address: info@pek-cy.com
Website: www.pek-cy.com

TAX INFORMATION 5/2017

According to the legislation, an individual who spends more than 183 days in Cyprus is considered as Cyprus tax resident.
The amendment of the Income Tax Law extents the definition of “Cyprus tax resident” for individuals. The amendment applies retrospectively as from 1 January 2017.
With the amendment to the legislation and the introduction of a new “60-day” rule, an individual who does satisfy all of the following conditions may still be deemed to be Cyprus tax resident if he/she:

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