Executive summary
On 5 June 2020, the Cypriot House of Representatives approved a bill amending Section 9B of the Income Tax Law on the application of the provisions of the Notional Interest Deduction (NID) on corporate equity. The relevant law implementing the new provisions will take legal effect once it is published in the Official Gazette of Cyprus, which is expected to take place next week.
Detailed discussion
Background
As of 1 January 2015, Cyprus tax resident companies (as well as …