Tax Webcast September 2018

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.

In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1 New tax framework for Investment Funds

1. 2 Circular 25 - Tax treatment of non-return capital contributions to companies who are not Cyprus tax residents

1. 3 Circular 26 – Tax treatment of insurance agents

1. 4 Government’s decision to reduce Special Defence Contribution on interest income

1. 5 Implementation of the Government scheme for the promotion of the film industry

2. International developments

2. 1 Legislative proposal of the EU to introduce a digital tax within 2018

3. Tax treaties update

3. 1 Treaties for the avoidance of double taxation between Cyprus - Luxembourg and Cyprus – United Kingdom enter into force

4.  Tax diary for October 2018

31 October 2018

-      Deadline for the electronic submission of the 2017 personal tax return by salaried individuals and individuals who do not prepare audited Financial Statements, if their gross income exceeds €19.500.

-      Payment of tax balance for the tax year 2017 through self-assessment by individuals who don’t prepare Financial Statements.


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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

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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