Updated Local File thresholds (2026)

Transfer Pricing alert

In December 2025, the House of Representatives approved amendments to the Income Tax Law of 2002 (as amended) (“ITL”), forming part of a broader tax reform initiative. The amendments were published in the Official Gazette of the Republic of Cyprus on 31 December 2025 and are effective from 1 January 2026. Among other changes, the reform introduced important updates to Article 33 of the ITL, impacting Cyprus transfer pricing documentation requirements.

Transfer pricing alert - Updated Local File thresholds (2026)

How KPMG in Cyprus can assist?

Please note that we will not be able to guarantee meeting the deadline of 31 May regarding the tax year 2022 for requests received after 15 April.

Should you like to further discuss the content of the legislation and potential impact to your business, please contact one of our trusted advisors from the Tax department at KPMG in Cyprus.

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George Markides
Board Member
Head of Tax Services
KPMG Limited

Michalis Loizides
Board Member
Tax Services
KPMG Limited

Costas Markides
Board Member
International Tax Services
KPMG Limited

Volodymyr Serdechniuk
Senior Manager
Transfer Pricing Services
KPMG Limited

Michael Halios
Board Member
International Tax Services
KPMG Limited

Michalis Fiakkou
Senior Manager
Transfer Pricing Services
KPMG Limited

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