The Cyprus Tax Department has reportedly informed the Institute of Certified Public Accountants of Cyprus (ICPAC) that minimum profit margins will no longer be accepted for back-to-back intragroup loans from 1 July 2017. Instead, all related-party financing will require a transfer pricing study from that date based on OECD guidelines. The change is a result of developments resulting from the OECD BEPS Project, as well as reviews from within the EU. Any tax rulings issued by the Cyprus Tax Dep…