Areas of Practice
12th May 2017
Partner George Ioannou, Head of Accounts Department Christos Nicolaou and Associate Andreas Charalambides participated in a tax seminar, organised by REDIMUS and entitled “How are Cyprus-based International companies being affected by changes in the Tax environment – Is your company ready to deal with them“. The seminar was held in Nicosia on 11 May 2017.
The main objective of the seminar was to familiarise participants with recent tax developments and court decisions in Russia, and how these might affect Cyprus-based international businesses. Furthermore, the seminar also provided a detailed analysis on the automatic exchange of information and common reporting standards; the implementation of BEPS actions; the treaty shopping and treaty abuse; the future of Cypriot financing structures (in the light of beneficial ownership issues); the new requirements in Cyprus for a transfer pricing study for granting loans; and the new rules for the IP Box regime. In addition, the seminar dealt with the challenges that the “holding company” regimes may face, and suggested ways to protect and defend the said corporate structures. The seminar’s final part dealt with the definition and application in practice of the terms “substance and tax residency”, in relation to both companies and individuals.
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