The global tax environment is constantly evolving, bringing with it changes in the transfer pricing (TP) landscape. The Cypriot tax and TP regime has undergone significant changes in the last few years to stay in line with the transformation of the international tax environment as a result of the implementation of the OECD and EU initiatives against Base Erosion and Profit Shifting (BEPS).
Cyprus has a modern tax and TP regime, with the arm’s length principle forming an integral part of the tax legislation. Global standards such as country-by country reporting for large multi-national groups have been adopted by Cyprus and the TP regime is further evolving.
Deloitte has extensive experience in assisting clients with their TP affairs though a dedicated team of professionals who can advise on current and future TP requirements at a local as well as international level. The team can assist by assessing the TP profile of each company and provide specialist TP expertise to address the pertinent issues within the context of the changing local and international tax landscape.