CYPRUS
KnowYourCountry
Member Firm
 
City
Name
Contact Information
Limassol
Nicholas Stavrinides
25 868000  /  nicholas.s@pkf.com.cy
Since 1994, the PKF network of independent member firms, which is administered by
PKF International Limited, has produced the PKF Worldwide Tax Guide (WWTG). The
report below is extracted from the 2012 WWTG and reproduced with the kind permission of
PKF International Limited. Before continuing, please read the Important Disclaimer below.

________________________________________________________________________

IMPORTANT DISCLAIMER:

This report should not be regarded as offering a complete explanation of the taxation matters that are
contained within this report.

This report has been made available on the express terms and understanding that the publishers and the
authors are not responsible for the results of any actions which are undertaken on the basis of the
information which is contained within this report, nor for any error in, or omission from, this report.

The publishers and the authors expressly disclaim all and any liability and responsibility to any person,
entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of
the contents of this report.

Accordingly no person, entity or corporation should act or rely upon any matter or information as contained
or implied within this report without first obtaining advice from an appropriately qualified professional
person or firm of advisors, and ensuring that such advice specifically relates to their particular
circumstances.

PKF International is a network of legally independent member firms administered by PKF International
Limited (PKFI). Neither PKFI nor the member firms of the network generally accept any responsibility or
liability for the actions or inactions on the part of any individual member firm or firms.
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Bilateral exchange of
information Agreements
in place?
    No
Local AML News / Sanctions
Tax Information
_________________________________________________________________________________________________________________
22 April, 2012  -  
Global Forum on
Transparency and
Exchange of
Information for Tax
Purposes Peer
Review

Key Findings:

Cyprus has a network
of DTCs covering 44
jurisdictions and it also
exchanges tax
information with other
EU members. Its DTCs
generally contain
provisions which allow
Cyprus to exchange all
foreseeably relevant
information. However,
deficiencies have been
identified regarding the
availability of
ownership and
accounting
information, and the
review recommends
changes to address
these. The report also
recommends
improvements in the
EOI network to ensure
Cyprus has
agreements to the
standard with all
relevant partners and
will enact appropriate
legislation to give
effect to these
agreements in all
cases. Cyprus’
response to the
recommendations
made in this review, as
well as the application
of the legal framework
and the
implementation of the
international standard
in practice, will be
considered in detail in
the Phase 2 review of
Cyprus, which is
scheduled to
commence in the
second half of 2012.

Read Review
Last Updated:   30 April 2013