The Cyprus Tax Department has announced the launch of a public consultation on the draft law for transposition of the EU Anti-Tax Avoidance Directive (Directive 2016/1164 - ATAD1) as amended (Directive 2016/952 - ATAD2). The proposed measures are in line with the standard provisions of the Directives, including the 30% of EBITDA interest deduction restriction, the exit taxation rules, the CFC rules, and the main purpose test (GAAR) of ATAD1, as well as the hybrid mismatch rules of ATAD 2.
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