Recent changes in the tax legislation in Cyprus.

Petros Theodotou, founder ServPRO, Cyprus will be attending as a Speaker at InvestPro UAE Dubai 2016 with Presentation: “Recent changes in the tax legislation in Cyprus.”

Why Cyprus

• Simplified and transparent tax regime

• 12,5% corp. tax rate with generous tax incentives

• Strategic geographical location

• Legal and regulatory framework

• High level of professional services

• Skilled workforce

• Extensive network of DTT, 50+ countries.

• Leading maritime center

• Outstanding infrastructure and communications

• European Standard of living

• Natural gas opportunities

• Member of EU and EMU

• Full compliance with EU laws and regulations

Introduction to Tax Incentives

• 12,5% corporate tax rate –one of the lowest in EU

• Generous participation exemption regime:

• No WHT on dividends paid from one Cy Co to another

• Tax exemption on dividends income from abroad (conditions apply)

• Foreign PE profits are tax exempt

• Gains from sale of securities are tax exempt

• No CGT or other taxes from the sale of immovable property situated outside Cyprus

• Attractive IP regime with 80% tax exemptions

• Favorable tax treatment of losses

• Tax relief on foreign tax paid

• No withholding taxes on dividends, interest and royalties paid to non-residents

• Notional interest deduction on equity introduced

• Competitive personal income tax rates and first employment exemptions to foreigners

• Non-Dom status to individuals with full exemption of

SDC

• Extensive network of DTT

• Full access to EU tax Directives

The Cyprus Economy

• Cyprus entered the bailout scheme in 2013 with a recession of 5,4%

• 3 years later exited successfully the bailout scheme with a growth of 2%

• Used only 7,25 out of the 10b Euro

• Current challenges:

• High levels of NPLs

• Unemployment of >10%

ServPro Services

• Taxation

• Company formation

• Accounting & financial reporting

• Audit & assurance

• Corporate & legal

• Trust & trustee services

• Advisory & consulting

• Information technology

• Immigration (Citizenship/Residency)

• Immovable property / real estate

• Economic substance solutions

Click to join  InvestPro UAE Dubai 2016