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The Tax Department announced important updates on 20 March 2025 regarding the submission deadlines for the 2023 Income Tax Returns, applicable to Companies (“T.D.4”) and Self-employed individuals obliged to prepare accounts (“T.D.1”). Taxpayers should note the following deadlines, differentiated based on the obligation to submit a Summary Information Table (“SIT”) of Controlled Transactions: Obligation to […]

Cyprus Tax Reform: Proposed Key Changes The Cyprus government is poised to implement its most comprehensive tax reform since 2002, aiming to modernize the tax system while balancing economic competitiveness with social priorities. As a first step, the Cyprus government commissioned the University of Cyprus Economics Research Centre to come up with a comprehensive tax

Insight in BriefThe long-awaited Pillar II legislation (N. 151(I)/2024) was approved by the Cyprus House of Representatives on 12 December 2024 and published in the Government Gazette on 18 December 2024. The legislation effectively implements the provisions of the EU Directive 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for

Insights on the latest developments in terms of VAT and GST across the globe After a hopefully relaxing summer term we come back to review the latest news regarding VAT and GST. Some of the information can be found in our third edition of the WTS Global VAT Newsletter 2022 before we sum up several important changes for 2023

Changes in international tax law and country-specific tax law developments with respect to cross-border transactions It is our pleasure to present our WTS Global Newsletter International Corporate Tax (ICT). In order to keep you up to date, our WTS Global Newsletter International Corporate Tax (ICT) will therefore give you an overview of current developments in this sector,