The latest issues of PRISM – the quarterly tax newsletter, which is part of Reanda’s effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Read the publication online. Highlights Australia Non-Compliance with Laws and Regulations (NOCLAR)What is NOCLAR?• What does NOCLAR mean?• How do professional accountants…

According to our previous newsletter, the house of Representative of the Republic voted into law the amendment to the Cyprus VAT legislation on 13 November 2017. According to the provisions of the law, the imposition of VAT on the rentals of immovable property is effective as from the same date (effective date). On 02/01/2018, the Cyprus Tax Authorities published an…

Cyprus and Saudi Arabia have concluded and signed a Double Taxation Avoidance Agreement (DTTA). The treaty will be confirmed and finalized within 2018 and will be effective from the 1st of January 2019. The treaty is based on the OECD Model Tax Convention framework with some modifications. Regarding Saudi Arabia, the treaty covers the Zakat (religious obligation of Muslims) and…

Introduction The House of Representatives of Cyprus on 3 November 2017, voted into law an amendment to the Cyprus VAT legislation, which will impose VAT at the standard rate of 19% on certain transactions involving immovable property that are carried out for business purposes and that currently are exempt from VAT, in order to be in line with the EU…

The latest issues of PRISM – the quarterly tax newsletter, which is part of Reanda’s effort to stay in touch with our clients by sharing updates and insights on the recent taxation changes and current hot topics. Read the publication online. Highlights China Measures of international tax environment Under the strategic guidance of One Belt and One Road, step by…

According to the Income Tax Office legislation, each company needs to estimate its final taxable income for the current year and pay two equal installments on the estimated tax before/at the following dates:1. 31 July - current year2. 31 December - current year If the Company fails to do so by submitting the IR6 declarations and its operations result in…