On February 10, 2023, the Cyprus Tax Department published a set of frequently asked questions (FAQs) to clarify some of the key provisions of Articles 33 and 33C of the Income Tax Law, which govern the transfer pricing rules effective from January 1, 2022.

These FAQs aim to provide businesses with clearer guidance on how to comply with Cyprus’ transfer pricing regulations, which align with international standards. The Cyprus Tax Department has responded to various queries concerning the implementation and application of the legislation, offering insights into practical and compliance-related matters.

It is expected that the FAQ section will be expanded with additional questions in the future as further clarifications are needed. The FAQ section posted by the Cyprus Tax Department can be accessed via clicking the following link Τμήμα Φορολογίας | Συχνές Ερωτήσεις

How George Kaimakliotis & Co Ltd Can Help

At George Kaimakliotis & Co Ltd, we are committed to assisting clients in understanding and complying with the new transfer pricing rules in Cyprus. Our expert team provides comprehensive advisory services, including the preparation of transfer pricing documentation, the implementation of transfer pricing policies, and ongoing support to ensure compliance with the latest legislative changes. We work closely with businesses to minimize risks and optimize their tax position in light of these regulations.