Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Cyprus: Notional interest deduction “reference rates” for 2024

The tax authority announced the notional interest deduction “reference rates” for a number of countries as of 31 December 2023.

March 12, 2024

The tax authority announced the notional interest deduction (NID) “reference rates” for a number of countries as of 31 December 2023.

Background

The NID reference rate constitutes the interest rate of the 10-year government bond yield of the country in which the new equity is invested (as of 31 December of the previous tax year), for the purposes of granting tax allowance on new capital as per article 9B of the Income Tax Law N.118(I)/2002, as amended.

For countries not mentioned in the announcement, taxpayers may apply to the tax authority for the determination of the appropriate NID reference rate enclosing the interest yields of the 10-year government bonds for the countries concerned based on the Bloomberg Index, or in the absence thereof, their estimation of the applicable rate.

Read a March 2024 report prepared by the KPMG member firm in Cyprus

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline