Cyprus to Introduce an Additional Corporate Tax Residency Test - January 2022
On 21 December 2021, an amendment to the Income Tax Law was published in the Cyprus Government Gazette, which introduced an additional Cyprus corporate tax residency test that aims to capture Cyprus incorporated or registered companies that are not tax resident in any other jurisdiction. This law amendment will enter into force on 31 December 2022. Provided that certain conditions are met, qualifying companies will be considered as Cyprus tax residents and as such, taxed in Cyprus on their worldwide income.
Read our briefing note for more information.