PUBLICATIONS

Despite the fact that someone may be granted a judicial decision in favour of that party by the Courts of Cyprus ordering the other side to pay its debts, however he/she may be unable to collect his/her money because, in many occasions, there are many debtors who may try to avoid payment of their debts despite the existence of the judicial decision issued against them by the Court of Cyprus.

The procedure of re-domiciliation (transfer) of an overseas company to Cyprus is quite simple and straight-forward.

Cyprus and Germany have signed an Agreement for the Avoidance of Double Taxation on Income and on Capital which replaces, an older Agreement of 1974 between the two States.

Cyprus offers important possibilities for international tax planning. One such possibility which has proved to be very beneficial for international businesses is the use of a Cyprus Holding Company.

The following amendments have been made with regards to the Special Contribution for the Defence Law with regards to:

The following amendments have been made to the Assessment and Collection of Taxes Laws

Companies engaged in the development of intellectual property rights and the subsequent licensing of these rights and the collection of royalties must always consider which is the best investment structure which among other factors have the least tax leakage.

Where dividends are received from abroad, any overseas tax withheld is given as a tax credit against the tax resulting in Cyprus.

Interest income under the Cypriot Income tax legislation is generally exempt as provided by section 8(19) of the Cyprus Income Tax Law 118(I) 2002 as amended.