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Learn moreAims to clarify certain provisions of the new transfer pricing rules
The tax authority released additional “frequently asked questions” (FAQs) 25–43, aimed at clarifying certain provisions of the new transfer pricing rules in Cyprus.
Of particular note, FAQ 25 clarifies that taxpayers need not take interest-free payable balances into account when assessing the threshold of Article 33(7) of the Income Tax Law and need not report them in the table of summarized information (TSI) for the years 2022 and 2023. However, for 2024 and onwards, such balances must be taken into account for that purpose and reported.
Read a September 2024 report prepared by the KPMG member firm in Cyprus
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