Cyprus introduces Global Minimum Tax for MNE groups and large-scale domestic groups

13 December 2024|Tax Alerts, National/Federal Taxation, Global|Cyprus

Cyprus has transposed into local legislation the Council Directive on Global Minimum Tax.
The law will be effective for financial years beginning on or after 31 December 2023 in relation to the IIR and for financial years beginning on or after 31 December 2024 in relation to the UTPR and domestic top-up tax.
The Transitional CbCR Safe Harbor and Transitional UTPR Safe Harbor are available.

Executive summary

On 12 December 2024, the Cyprus House of Representatives voted to transpose into law Co…

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