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SIGNIFICANT AMENDMENTS TO THE CYPRUS TAX SYSTEM

A number of significant amending bills to the Tax Laws of the Cypriot Tax system have been voted by the House of Representatives during 2015.

The changes introduced:

1]     Provide incentives for new equity capital and aim to attract foreign investments and high-net worth individuals;

2]     Aim at harmonizing Cyprus Tax Laws with the new provisions of the EU Directives;

3]     Simplify the Tax regime and eliminate some inconsistencies;

4]     Introduce anti-avoidance measures.

 

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