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15/04/2019 - Cyprus: tax residence certificates

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Articoli Correlati: tax residence certificates

Cyprus Revenue Agency issued a circular letter (dated 29 January 2019) which provides indications on the tax provisions for subjects introduced by Law 119/2017. With effect from 2017, individuals physically present in Cyprus for a period of at least 60 days during the fiscal year will be considered residents of the country provided that they meet all the following conditions of that fiscal year: they do not remain in another country for a period longer than 183 days; they are not tax residents in another country;
undertake business activities in Cyprus, are employed in Cyprus or hold a position in a company resident in Cyprus until the end of the fiscal year; maintain permanent residence in Cyprus. The circular clarifies that a person who holds the office of director in a company resident in Cyprus and who delegates this task to a “substitute” director or a substitute at any time during the fiscal year does not fulfill the third condition and, therefore, is not entitled to tax residence in Cyprus pursuant to the 60-day legislation.