sale of shares Cyprus

[Cari]

Hi! Do you need to pay a GESY tax for the sale of shares in Cyprus?
In case it is not a trading.
I have been finding different opinions. In case it is trading it seems to be clear that it is subject to GESY.
However if it is a one-time deal and not a regular business, is there GESY?

 

[CyprusLaw]

Hi! Do you need to pay a GESY tax for the sale of shares in Cyprus?
In case it is not a trading.
I have been finding different opinions. In case it is trading it seems to be clear that it is subject to GESY.
However if it is a one-time deal and not a regular business, is there GESY?

Even though each case should be reviewed on its own merits, the short answer is no.

 

[Cari]

great, thank you!

 

[Cari]

Even though each case should be reviewed on its own merits, the short answer is no.

I have checked the legislation myself and it says that GESY is paid on the goodwill. But there is no official definition of the goodwill. Do you know when sale of shares is considered as an income from the goodwill and when not?