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Taxation

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Key Features of the Cyprus Tax System

All Cyprus tax resident companies are taxed in their income accrued or derived from business activity which is carried out through a permanent establishment in Cyprus or abroad.

A company is a resident in Cyprus if it is managed and controlled in Cyprus

      
  • Corporate tax on worldwide profits of 12.5%
  • Non withholding tax on dividends paid to non Cypriot resident
  • Tax exempt gains on the sale of securities  
  • Tax exempt income paid to Cyprus companies by overseas companies, subject to certain criteria (upon payment of dividends)
  • Tax relief for group losses; Cyprus tax resident companies of the same group can transfer current year losses from loss making companies to profitable companies
  • Mergers, takeovers and re-organizations within a group take place without any tax consequences.
  • 80% of the profits arising out of the exploitation and or disposal of intellectual rights is granted as an allowable tax deduction.
  • Exemption from all direct taxes  of Cyprus ship owning companies under tonnage tax, subject to certain qualifications.

Services Offered

  • Tax advise on any type of commercial transactions
  • Legal and tax opinions
  • Advice on tax structures using corporate vehicles in various jurisdictions