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.