On 3 April 2024, the Cyprus Tax Department released additional frequently asked questions (FAQs), i.e., 17 –24, with the purpose of clarifying certain provisions of the Articles 33 and 33C of the Income Tax Law (ITL), which relate to the adoption of the Transfer Pricing legislation by Cyprus as from 1 January 2022.
This informational leaflet presents the questions and corresponding answers as published in the Tax Department website. The FAQs are expected to be expanded with additional questions in the future.