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05 January 2016

Cyprus announces plans to amend Intellectual Property Regime

The Cypriot Ministry of Finance issued a press release on December 30, 2015, announcing plans to amend the existing Cypriot Intellectual Property (IP) Regime. The press release expressly states that the prospective amendments will correspond to the recommendations of the final report of the Organization for Economic Co-operation and Development (OECD), on Action 5 Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance (the Report) under its Action Plan against Base Erosion and Profit Shifting (BEPS).

A Tax Alert prepared by Ernst & Young Cyprus, and attached below, provides additional details.

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Document ID: 2016-0010

 

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