Cyprus:
Amendments Of The Cyprus IP Box Tax Regime
15 September 2020
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The provisions of the Cyprus Tax law for the treatment of
intangible assets have been amended on 14/08/2020, retrospectively
from 01/01/2020.
The amendments as explained below they enhance the
attractiveness of the regime by:
- abolishing any tax on the gain
realized on the disposal of the intangible assets (even on the
capital allowances claimed as tax deduction) and;
- provide flexibility to taxpayers on
the claim of capital allowances over the useful life of the
intangible
An analysis of the amendments is presented as below:
The above amendments do not apply for IP assets existed up to
30/06/2016 and fall into the grandfathering provisions of the law
that continue to apply up to 30/06/2021.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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