Daily Archives: February 5, 2024

Update on Local File Thresholds for the Tax Year 2022

On 1 February 2024, the Cyprus Tax Department (“CTD”) issued a letter revising the thresholds for preparing a Local File for the tax year 2022. These changes aim to streamline compliance requirements and reflect the evolving needs of stakeholders. Current Requirements Under the Income Tax Law of 2002, as amended, Cypriot tax-resident persons and Permanent […]