The EU Council revised its list of non-cooperative jurisdictions for tax purposes on 14 February 2023 and now consists of 16 jurisdictions which in addition to Russia, the BVI, Costa Rica and the Marshal Islands also includes American Samoa, Anguilla, Bahamas, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, Turks and Caicos Islands, US Virgin...Read More

Our firm is seeking to recruit a semi-experienced Corporate / Trust Lawyer, to join our friendly Limassol Corporate practice, where we believe in building and maintaining high valued long term relationships with our clients. The ideal candidate will have previous experience in corporate and trust law/ administration for a portfolio of clients. If you are...Read More

The submissions should be completed using the following guidelines: Submission of a revised upward Temporary Tax return for the year 2022 to be completed by the 31st of December 2022. If the Taxpayer will proceed with the upward revision of the initial Temporary Tax submitted for the year 2022, such revision can be created through...Read More

On the 22nd of February 2021, the House of Representatives passed a law levying a 0.4%  tax on all sales of immovable property, the proceeds of which to go toward supporting Greek Cypriot refugees. The law provides for a tax on any sale or other type of transfer of land and real estate. In addition,...Read More

On the 24 th of March 2022 the Parliament of Cyprus has voted a 4 month extension to the deadline for the submission of the 2020 Income Tax Returns (Form TD 4) for Companies and Individuals (Form TD 1) who have an obligation to prepare audited financial statements. Based on the laws voted by the...Read More

In order to accommodate new initiatives in the field of tax transparency at the level of EU, the EU Council adopted on the 25th of May 2018 the Directive 2018/822/EU on Administrative Cooperation in Tax Matters (amending Directive 2011/16/EU) (the “Directive” or “DAC6”) under which EU intermediaries involved in cross-border arrangements are obliged to make...Read More

Wealthmore would like to inform of the following special measures announced by the Cyprus Government in order to support the country’s economy affected by the Coronavirus outbreak: I. Tax measures A two-month extension of the submission deadline of income tax returns that were due by 31 March 2020. The new submission deadline for the 2018...Read More

In the context of the measures taken by the government to support companies and businesses affected by the restrictive anti-COVID-19 measures, the Department of Registrar of Companies announces as follows: I. Suspension of de-listing procedures: The publication of three-months notices about the delisting of non-compliant companies in the Official Gazette of the Republic is suspended until January 2021. II. Payment...Read More

On 7 February 2020, the Health Insurance Organization (“HIO”) in exercising the powers conferred to it by the General Health System Legislation (“The Law”) has issued instructions in relation to refunds on GHS Contributions. These instructions lay down the procedure for requesting a refund on GHS contributions paid in excess of the maximum amount on...Read More

Over the past twenty years, Cyprus has developed into one of the most favourable places for international business. The key factors are the low tax regime, its ability to offer sophisticated planning structures, its effectiveness to set up and manage collective investments schemes, the enactment of the Cyprus International Trusts Law and its excellent geographical...Read More