Eurostat: large fall in electricity prices

Household electricity prices in Cyprus fell by nearly 25% in the second half of 2020 compared to the year before, the second largest decrease in the EU.

Extension of the Deadline for Submission of Employers and Individuals’ Income Tax Return

In April 2021 the Cypriot House of Representatives voted to amend certain provisions relating to the Assessment and Collection of Taxes Law 4/78.

Average hourly labour costs estimated at €17

In 2020, average hourly labour costs in Cyprus were estimated to be €17, below the €28.5 averaged in the EU and €32.3 in the euro area, according to figures issued by Eurostat on Wednesday.

Cyprus – Egypt Double Tax Treaty: Key Provisions

The Agreement between the Republic of Cyprus and the Arab Republic of Egypt for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (known as the Double Tax Treaty (DTT) between Cyprus and Egypt) has entered into force on 31 July 2020, while the preceding DTT between the two States done on 18 December 1993 has been terminated.

Cyprus tax deals to attract investment

Cyprus hopes to attract direct investment after tweaking a Double Taxation Avoidance treaty with Germany, making it harder for foreign firms to set up shell companies on the island.

EY presents Cyprus Tax Facts 2021 guide

EY Cyprus is pleased to share the latest Cyprus Tax Facts guide – in English – which provides a straight-forward, holistic summary of the Cyprus tax system, based on current legislation and tax practices, in relation to the fiscal year 2021.

Lebanese digital banking firm moves to Cyprus

In the first months of 2020, André Zein determined to move his digital banking company TechnOrion from Metn, Lebanon, where conditions were becoming untenable.