Cyprus taxation on foreign company (ltd, opaque) liquidation proceedings

[ElBotellon]

How is Cyprus treating proceedings from liquidation of foreign companies? I mean the surplus a shareholder/associate (physical person) receives from a foreign limited company subject to dissolution and liquidation.

Ignoring the tax at source (which may depend on the country and DTA), which is the treatment in CY?

Example: ltd capital 10.000Eur; Liquidation proceedings 100.000Eur; the 90.000 represent "capital gain"? do they enter into the capital gain definition as "securities" (in other words, is liquidation equivalent to "disposal")?
Can we safely exclude that they would not represent Personal Income (PIT)?

Last but not least, is the capital gain subject to Gesy? (in the tax return it seems there is a space for exempt income subject to Gesy).

many thanks in advance for your contribution to the discussion.

 

[CyprusLaw]

First of all, capital gains tax in Cyprus only applies to sale of real estate property or sale of shares connected to real estate property. Assuming that you are a non-dome there will be no PIT or SDC.

 

[ElBotellon]

First of all, capital gains tax in Cyprus only applies to sale of real estate property or sale of shares connected to real estate property. Assuming that you are a non-dome there will be no PIT or SDC.

first of all many thanks for your answer. Your answer assumes that liquidation proceedings are capital gain, while my doubt is exactly how liquidation proceedings qualify.

Question 1
Are liquidation proceedings (income from liquidation of companies) treated as:
a) dividends (subject to SDC) ? [let's keep apart the eventual non-dom status]
b) personal income (PIT) ?
c) capital gain (excluded from PIT and SDC)?

If you include them in a tax return, the qualification I believe should count for the correct declaration.

Question 2
Assuming we are in case c) capital gain, is gesy applicable or not (in the tax return there is exempt income subject to gesy)