Executive summary
On 12 February 2020, the Cypriot Tax Department (CTD) announced the 10-year government bond yield rates as at 31 December 2019 for a number of countries (set forth in the table below) with respect to the Notional Interest Deduction (NID) on equity. These yield rates are to be used to determine the reference interest rate for claiming NID in respect of the 2020 tax year.
The key NID provisions and the applicability of the 10-year government bond yield rates are summarized bel…