The European Commission has officially approved Cyprus’ shipping taxation system. The taxation scheme allows companies to opt for a tax calculated on the net tonnage of the fleet that they operate instead of being taxed on the actual profits of their maritime transport activities. “This approval constitutes perhaps the most important success for Cyprus Shipping [...]
The German Ministry of Finance has announced on01/09/2009 that it had initialled the text of a revised double taxation treaty with Cyprus. The revised treaty allows for the exchange of information on tax matters between the two countries’ authorities, in accordance with Art. 26 of the OECD model convention. The agreement will allow the respective countries’ tax authorities [...]
The Russian Federation and the Republic of Cyprus have signed a new double taxation protocol which secures Cyprus’ removal from the ‘blacklist’ of jurisdictions which have not demonstrated a sufficient level of cooperation with the Russian tax authorities. The existing tax treaty between Russia and Cyprus has been one of the major reasons for the huge [...]
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