Taxation in Cyprus

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PRESIDENT Vladimir Putin would have caused more than a few ripples Cyprus with his state of the nation address on Thursday. In his speech he announced initiatives to crack down on Russian companies that are registered abroad and pay taxes in offshore jurisdictions. He said: “You want to have offshores? Fine, but get the money […]

Cyprus needs to urgently update, renegotiate and expand many of its double taxation agreements, some of which were signed decades ago, including some before the 1970s (the Soviet Union and Czechoslovakia) and no longer apply to current financial and taxation realities, not to mention political.

European Central Bank Governing Council member Ewald Nowotny said that in 2014, all of the euro zone`s member countries, except Cyprus, will have positive economic growth, adding that the euro zone has exited recession.

Cyprus has clarified that India’s unilateral action will not end the double taxation avoidance agreement between them.

Cyprus deserved a higher rating on tax transparency than the OECD gave it in a report last week, the finance ministry said on Monday.

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