Cyprus issues draft legislative proposal on Pillar Two global minimum tax

09 October 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, BEPS 2.0|Cyprus

The draft legislative proposal is aimed at helping Cyprus implement Pillar Two global minimum tax rules.
Comments on the draft proposal may be submitted through 31 October 2023.
The law will be effective for accounting periods beginning on or after 31 December 2023 in relation to the Income Inclusion Rule and for accounting periods beginning on or after 31 December 2024 in relation to the Undertaxed Profits Rule.

Introduction

On 3 October 2023, the Ministry of Finance of Cyprus issued a draft legisl…

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