On 10 December 2015, the Cyprus House of Representatives adopted a number of tax reform measures proposed earlier in the year, several of which apply retroactively. One of the reform measures, a notional interest deduction, was already approved earlier ({News-2015-08-14/A/3- previous coverage}).
The main measures are summarized as follows.
Dividends Participation Exemption Restriction
Changes are made based on amendments to the EU Parent-Subsidiary Directive concerning hybrid mismatches a…