Tax Alerts - 2023-03-20
TRANSFER PRICING GUIDELINES
The Cyprus Income Tax Law has been amended and new Regulations implemented in relation to new Transfer Pricing (“TP”) documentation compliance obligations (Master File, Cyprus Local File, Summary Table) for Cyprus tax resident persons and permanent establishments of non Cyprus tax resident persons situated in Cyprus, that engage in transactions with related parties (“Controlled Transactions”).Read more
Tax Alerts - 2023-02-23
ATAD 3 SHELL ENTITIES
The European Commission published a draft anti-tax avoidance directive known as ATAD 3, “laying down rules to prevent the misuse of shell entities for improper tax purposes”.
Although the final form of the directive is unknown, its current content may result in tax and reporting consequences for EU entities that do not meet its substance and economic activity requirements.