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Cyprus tax authorities issue revised thresholds for transfer pricing documentation

|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Transfer Pricing|Cyprus
Cyprus
  • The Cyprus Tax Department has increased the thresholds applicable to taxpayers' transfer pricing documentation obligations.
  • The higher thresholds are effective for tax year 2022.
 

Executive summary

On 1 February 2024, the Tax Department issued revised thresholds relating to taxpayers' obligation to prepare a Cyprus Local File for transactions falling within the ambit of Section 33 of the Income Tax Law (ITL) (i.e., intercompany transactions). The revised thresholds are applicable for the tax y…

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