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Transposing the Anti Tax Avoidance Directive
Date: 16/04/2019
The Cyprus Parliament passed the proposed legislation transposing into Cyprus law the EU Directive on Anti-Tax Avoidance 2016/1164 (ATAD) with retroactive effect (1st January 2019)(“ATAD Law”).
 
The ATAD Law introduces an anti-abuse package of measures in line with ATAD composed of the: 
 
❖ Interest barrier rule;
 
❖ Controlled Foreign Company rule;
 
❖ General Anti Abuse Rule
 
 
Two additional anti-abuse measures contained in ATAD will be transposed into national Law by the end of this year. These two measures are:
 
❖ Exit Taxation;
 
❖ Hybrid Instruments;
 
 
In this Tax News Letter we expand on the first three rules which have (retroactive) effect as from 1st January 2019. 
 
Download: Tax Newsletter - Tranposing ATAD.pdf
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