Or so i have heard. Do you think this is going to happen? What impact will it have? Any chance companies will start fleeing to Malta or other jurisdictions?
The will begin discussions for this early next year, so (a) we don't know if and when it will be implemented; (b) we don't know how it will be implemented; (c) any increase of the CIT will come with the introduction of other incentives.Well, i don't know if this is true but after Ireland said to increase CIT at 15% it's something that is not surprising.
I've also heard that Gibraltar is going to increase CIT to 12.5% but not sure when this will happen (if it will happen). For sure there's a trend in trying to uniform CIT to level the playing field but i guess we will always find ways to reduce taxes in more creative ways
The logic behind the change is the decision of G7 to implement an a minimum corporate tax rate to 15%.
Since Cyprus's Economy rely on the services offering to foreigner companies, new tax incentives will be implement.
neither for me. 15% is still lower compared to many other EU countries. They have a awesome system for foreigners to do business in Cyprus.It does not change a lot for me.