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Tax Update 17.01.14

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  • The standard VAT rate is increased from 18% to 19%, as of 13 January 2014.

The following double taxation and prevention of fisca evasion treaties became effective as of 01 January 2014.

Cyprus - Estonia

  • No withholding tax rates on interest, royalties and dividends

Cyprus - Finland

  • No interest
  • Dividends 15% in all cases and no more than 5% of the gross amount of the dividends if the beneficial owner controls more than 10% of the voting power of the company
  • No royalties

Cyprus - Ukraine:

  • Interest 5%
  • Dividends 15% in all cases and 5% when the holding participation is at least 20% or the direct investment €100k,
  • Royalties 10% in all cases and 5% on income from IP rights

A.I.Kitsios LLC
17 January 2014