Search terms: Corporate Tax, Cyprus
Including: Basis of taxation; Income tax; Social insurance; Special defence contribution; Capital gains tax; Double taxation agreements; Advance rulings; Capital duty; Annual levy on companies; Stamp duty; Value added tax; Immovable property tax; Fees on transfer of immovable property; Levy on credit institutions; Taxation of international shipping and ship management activities.
Following Cyprus's accession to the European Union, in order to bring Cypriot law into line with the EU Directive on the Free Movement of Capital the tax burdens on the sale of shares have been removed. This applies to all sales of shares, not only to sales where the buyer is from an EU member state.
The double tax treaty between Cyprus and Lebanon which was ratified last year covers income tax, corporate tax, capital gains tax and special defence contributions as regards Cyprus, and income tax only as regards Lebanon. A Cyprus-Belgium double tax treaty is also awaiting ratification, while treaties with Norway, Singapore, South Africa, Finland and Thailand are under negotiation.