Any additional expense to the price of property can make a considerable difference as to its affordability. Buyers must therefore take special care to confirm whether the property they are considering purchasing is subject to Value Added Tax (VAT) and if so, whether the purchase price quoted includes the VAT. What type of Immovable Property…
Cyprus has one of the most favourable double tax treaties with India for the avoidance of double taxation and the prevention of fiscal evasion. The tax treaty offers benefits such as exemption from capital gains tax. As a result of the benefits offered, an ever increasing proportion of investment into India has been channelled through…
Property Transfer fees are imposed by the Department of Land and Surveys in order to transfer ownership of preoperty to the name of the purchaser. The transfer fees are due for payment when the transfer of the title deed in the name of the purchaser takes place. The Purchaser is solely responsible for the payment…
On the 5th of August 2009 the Council of Ministers approved draft legislation relating to Payment Services. It is expected that the legislation will be passed by the House of Representatives during the forthcoming months. The legislation will be enacted for the purposes of harmonisation of Cyprus law with the provisions of Directive 2007/64/EC of…
As of the 01.05.2009 the restrictions placed on the acquisition of property by EU citizens have been lifted. Since Cyprus’ accession to the European Union on 1st May 2004, property laws have been revised to conform to the provisions of the acquis communitaire. However, in order to protect the property market, Cyprus negotiated a 5 year…
General 1. The taxable earnings, where imported into the Republic, from the export of locally made or produced products (excluding petroleum product), are taxable up to the 2002 at ½ rates. 2. Companies which introduced shares into the Cyprus Stock Exchange for the first time, following the 10.7.1998, are taxable for the 4 tax years…
If you need to protect your hard gained reputation against defamatory comments or actions which infringe your rights to privacy we are able to provide assistance. We will provide swift and clear advice and explain the options available to you. We will advice on the appropriate course of action based upon your objectives, whether that…
Individuals – Income Tax % Tax Years 1991 – 1995 £ 1996 – 1999 £ 2000 – 2001 £ 2002 £ 2003 £ 2004 – 2006 £ 2007 £ 0% 0 – 2.000 0 – 5.000 0 – 6.000 0 – 9.000 0 – 9.000 0 – 10.000 0 – 10.750 20% 2.001 – 4.000…
Cyprus is a member of the European Union and is situated in the Eastern Mediterranean, lying at the hub of three continents and close to the busy trade routes linking Western Europe with the Middle East, Africa and the Far East. The legal system is based on the English common law. The national currency is the…
1. Which persons are liable to Income Tax in Cyprus and in respect of what income? Individual and companies resident in Cyprus are liable to income tax in accordance with the Income Tax Law (Law No. 118(I) of 2002, as amended) in respect of their worldwide income. An individual is resident in Cyprus, if they…