The Cyprus Ministry of Finance has published the draft Budgetary Plan for 2021, which was presented to the parliament finance committee on 26 October 2020, following its approval by the Council of Ministers on 22 October. With respect to taxation, the plan includes two key measures:
- The introduction of withholding tax on dividend, interest, and royalty payments to countries in Annex I of the EU list of non-cooperative jurisdictions on tax matters; and
- The introduction of a corporate tax res…