As per the recent announcement by the Registrar of Companies Department, Cyprus had recently proceeded with the full embodiment of the 5th European Directive (EU 2018/843), of 30th May 2018 of the European Parliament (5th AML Directive) to the national legislation and has mobilised the implementation of the Beneficial Owners (BO) Registry for Companies and
Arm’s length Principle The arm’s length principle, i.e. the principle that conditions made or imposed in transactions between associated persons should be similar to those observed and applied between independent persons, is codified in Section 33 of the Income Tax Law. Transfer Pricing Documentation Comprehensive transfer pricing documentation requirements apply to Cyprus taxpayers as from