Tax Webcast March 2019

Cyprus Tax Webcasts

Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

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In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1 Amending laws for tax free loan restructurings

1. 2 Amending Income Tax Law for the tax treatment of accumulated losses in special cases

1. 3 Clarifications regarding the General Healthcare System (GESY)

2. Tax Treaties

2. 1 Tax treaty between Cyprus – Saudi Arabia enters into force

3. International developments

3. 1 EU Court of Justice decision for tax reliefs provided in Directives

3. 2 Updated EU list of non-cooperative jurisdictions

4.  Tax diary for March 2019

31 March 2019

-      Electronic submission of income tax return for individuals & companies preparing audited financial statements for the tax year 2017 - Extended to 30 April 2019.

30 April 2019

-      Payment of 1st instalment of premium tax for insurance companies in the life business sector for the 1st quarter of 2019.

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Please note that the comments made in this presentation, to some extent, are based on material obtained from sources outside Deloitte.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the ″Deloitte network″) is, by means of this video, rendering professional advice or services.

No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this video.

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