DOING BUSINESS IN CYPRUS - Andreas Neocleous & Co

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Doing Business in Cyprus foreign taxation; as a holding company whose income may be exempt, subject to the passive dividend rules; as an operating company able to claim treaty protection to avoid the creation of a permanent establishment in a foreign country, with the facility of having an office in that country to perform limited functions; as a Cyprus international trust entitled to benefit from treaty protection in some circumstances; to operate shipping companies from Cyprus with treaty protection. Where tax has been suffered on income from a foreign country with which there is no double taxation treaty, unilateral relief from Cyprus tax will be allowed by way of exemption, credit or deduction up to the amount of tax suffered in the foreign country 32
Doing Business in Cyprus <strong>Co</strong>untry Table of treaty tax rates All rates are percentages. The numbers after some rates refer to the notes overleaf. Received in Cyprus Dividends Interest Royalties Paid from Cyprus Received in Cyprus 33 Paid from Cyprus Received in Cyprus Paid from Cyprus Armenia nil nil nil nil nil nil Austria 10 10 nil nil nil nil Azerbaijan nil nil nil nil nil nil Belarus 5 1 5 1 5 5 5 5 Belgium 10 2 10 2 10 3 10 3 nil nil Bulgaria 5 4 5 4 7 5,6 7 5 10 6 10 Canada 15 nil 15 3 15 3 10 7 10 7 China 10 10 10 10 10 10 Czech Rep. 10 nil 10 3 10 3 5 8 5 8 Denmark 10 2 10 2 10 3 10 3 nil nil Egypt 15 15 15 15 10 10 France 10 9 nil 10 3 10 3 nil 10 nil 10 Germany 15 11 nil 10 3 10 3 nil 10 nil 10 Greece 25 25 10 10 nil 12 nil 12 Hungary 5 13 nil 10 3 10 3 nil nil India 10 9 10 9 10 3 10 3 15 15 Ireland nil nil nil nil nil 12 nil 12 Italy 15 nil 10 10 nil nil Kuwait 10 nil 10 3 10 3 5 8 5 8 Kyrgyzstan nil nil nil nil nil nil Lebanon 5 5 5 5 nil nil Malta nil 15 10 3 10 3 10 10 Mauritius nil nil nil nil nil nil Moldova nil nil nil nil nil nil Norway 5 14 nil nil 15 25 16 nil nil Poland 10 10 10 3 10 3 5 5 Romania 10 10 10 3 10 3 5 8 5 8 Russia 5 17 5 17 nil nil nil nil San Marino nil nil nil nil nil nil Serbia 10 nil 10 10 10 10 Seychelles nil nil nil nil 5 5 Singapore nil nil 7 18 7 18 10 10 Slovakia 10 nil 10 3 10 3 5 8 5 8 Slovenia 10 nil 10 10 10 10 South Africa nil nil nil nil nil nil Sweden 5 13 5 13 10 3 10 3 nil nil Syria 15 19 15 19 10 3 10 3 10 20 10 20 Tajikistan nil nil nil nil nil nil Thailand 10 10 10 21 10 21 5 22 5 22 Turkmenistan nil nil nil nil nil nil Ukraine nil nil nil nil nil nil UK 15 23 nil 10 10 nil 10 nil 10 USA 5 24 nil 10 3 10 3 nil nil Uzbekistan nil nil nil nil nil nil
Page 1 and 2: Doing Business in Cyprus ANDREAS NE
Page 3 and 4: Andreas Neocleous & Co LLC Local an
Page 5 and 6: Doing Business in Cyprus Contents I
Page 7 and 8: Doing Business in Cyprus Introducti
Page 9 and 10: Commercial environment Cyprus has a
Page 11 and 12: Doing Business in Cyprus authority
Page 13 and 14: Doing Business in Cyprus Foreign in
Page 15 and 16: Doing Business in Cyprus Business e
Page 17 and 18: Doing Business in Cyprus An exempti
Page 19 and 20: Doing Business in Cyprus Taxation T
Page 21 and 22: Doing Business in Cyprus Social Ins
Page 23 and 24: Doing Business in Cyprus Rental pay
Page 25 and 26: Doing Business in Cyprus the do
Page 27 and 28: Doing Business in Cyprus managers o
Page 29 and 30: Doing Business in Cyprus in respect
Page 31: Doing Business in Cyprus Double tax

DOING BUSINESS IN CYPRUS - Andreas Neocleous & Co

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