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DTT with Ukraine
The Convention (Tax Treaty) for the avoidance of double taxation and the prevention of fiscal evasion signed on the 8th of November 2012, by Cyprus and Ukraine enters into force as from 1st January 2014 following its ratification by the…
Centaur Trust – CySec Licensing
Centaur Trust is proud to announce that we have been granted our license by the Cyprus Securities and Exchange Commission (CySec), and are the second company in Cyprus to be granted such a license to offer the complete range of…
The Cyprus Bail-out
As you are no doubt aware, the last few days saw turmoil in Cyprus, due to a banking crisis brought about by the financial problems faced by the two largest banks in Cyprus, namely the Bank of Cyprus, and Laiki…
The Case of Economic Substance
Whenever an international group establishes structures where there would be a holding company in a low tax jurisdiction and there would be subsidiary companies in the so called high tax countries, substance has become a crucial consideration at the holding…
Corporate Tax Residence
Corporate tax residence is the concept by which the taxing rights over a company’s profits and gains are determined. Different countries have different ways of defining corporate tax residence, which creates further complexity for companies operating in more than one…
Cyprus – Spain Double tax treaty
On 14th of February 2013 Cyprus and Spain signed a new Income Tax Treaty agreement and protocol. The agreement was signed during a ceremony at the residence of Spain's Ambassador in Nicosia, Mrs Ana Salomon Perez, who said that after…
Amendments to the Cyprus Tax Laws
On the 21st day of December 2012 several amendments to the Cyprus Tax laws have been voted in by the Parliament in Cyprus. We present below the most relevant amendments that affect our line of business.
The law regulating companies providing administrative services and related matters of 2012
The Law Regulating Companies Providing Administrative and Related Matters of 2012 (no.L.196(I)/2012) (“the Law”) came into force on 21 December 2012. The Law transposes the provisions of Directive 2005/60/EC into national law of the Republic of Cyprus (“the Republic”), and…
Management and Control
The place of central management and control as a test of residence is becoming established as the first rule that companies need to satisfy in order to avoid any tax adverse consequences. This is true in many countries now. The…
Cyprus – Ukraine Tax Treaty
On 8 November 2012 Cyprus signed a new Double Tax Treaty agreement with Ukraine. The conclusion of the new Double Tax Treaty marks the end of a long period of uncertainty and is definitely a welcoming development for investors. The…
Cyprus – Finland Tax Treaty
On 15th November 2012, Cyprus and Finland signed a new income tax treaty. The agreement was signed by Cypriot Minister of Finance Vasos Shiarly and Ambassador of Finland in Nicosia Anu Saarela, at the Ambassador`s residence. Speaking at the ceremony,…
Cyprus – Estonia Tax Treaty
On 15th of October 2012 Cyprus and Estonia signed in Luxembourg an Income Tax Treaty agreement and protocol. The agreement was signed on the sidelines of the Foreign Affairs Council, by the Minister of Foreign Affairs, Erato Kozakou-Marcoullis, and the…