Executive summary
On 17 July 2020, the Cypriot House of Representatives approved a bill amending Section 9(1)(l) of the Income Tax Law (ITL) which introduced a number of changes with respect to the tax treatment of intangible assets.
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 within two weeks from the enactment date.
Detailed discussion
As per section 9(1)(l) of the ITL, any…