The report includes significant developments recorded in Cyprus corporate tax system
PwC has published 'Worldwide Tax Summaries – Corporate Taxes 2014/15,' its latest compendium of worldwide corporate tax rates and rules. The guide features over 150 country summaries, written by local PwC firm tax specialists, including recent changes in tax legislation. The guide includes key information about income taxes, residency, income determination, deductions, group taxation, credits and incentives, withholding taxes, indirect taxes, and tax administration.
Among the recent significant developments, the report highlights the seven new/amended Double Tax Treaties (DTTs) that came into effect on 1 January 2014. More specifically, Cyprus had new/updated DTTs with Austria, Estonia, Finland, Kuwait, Portugal, Ukraine, and the United Arab Emirates. Cyprus also recently signed new/amended DTTs with Lithuania, Norway, and Spain.
“Businesses are increasingly trading and operating across multiple countries. As such, they need to remain up to date on the latest changes to tax laws and regulations and keep tabs on the varying tax rates in effect" said Costas Mavrocordatos, Head of Tax & Legal at PwC Cyprus. "Using the unmatched resources of PwC's worldwide network of tax professionals, we track the latest information and put the world's taxes at their fingertips."
Worldwide Tax Summaries is available in four forms: as a hard copy book, an ebook for download, a PDF file, and online at www.pwc.com/taxsummaries . The website allows users to search for information on over 20 categories of corporate and individual tax information and is updated within approximately 30 days of significant tax developments, with dates provided for the latest revisions. There is also a listing of tax specialists at PwC member firms around the world who can offer advice and support. Worldwide Tax Summaries content is also accessible through Tax Analysts at http://www.taxanalysts.com/wts .
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