Month: October 2014

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on…

Shareholders’ continuity test The shareholders’ continuity test holds that the same shareholders must hold at least 50% of the company’s total shares as at both the relevant dates. If the…

Definition: Whether a payment is considered “interest” depends on the substance of the transaction. The intrinsic nature of said interest is compensation for not being able to use or the…

The Income Tax Act does not give a definition for royalties. However, royalties can be defined as a payment for the right to use a patent, copyright and other intellectual property. E.g.…

The types of companies that may be formed and regulated under the new Companies Ordinance in Hong Kong are public and private companies limited by shares; companies limited by guarantee…

As per 152A(1)(a): The following companies shall, in accordance with the provisions of the Auditors and Statutory Audits of Annual and Consolidated Accounts Law2009 submit their financial statements to an Auditor for auditing: Every…

Concept of Withholding Tax When income is paid to a non-resident of a country, it is typical of the country to collect tax from the non-resident; the payee is required…

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on…

No withholding tax applies on interest and royalties when paid from a Russian Company to a Cypriot company. This was ratified on the Protocol and signed by Russia and Cyprus…