Cyprus is reportedly extending the tax relief for rent reductions that has been introduced in response to COVID-19. With the relief, if owners reduce the rent amount for tenants that have been affected by the COVID-19 pandemic, they will receive a tax credit equal to 50% of the rent reduction amount provided that certain conditions are met, including that the rent reduction is no less than 30%. The availability of the tax credit for rent reductions is being extended until the end of 2021. In …