Taxation News – 2nd Issue (February 2014)

Taxation News – 2nd Issue (February 2014)


The new tax rates for Corporate Income Tax and Personal Income tax


Amendment in the tax treatment of the relations between resident persons and companies registered in jurisdictions with preferential fiscal arrangements

European Union

Mandatory Automatic Exchange of Information


Necessary documentation needed regarding the credit of foreign tax


Discussion Draft on transfer pricing documentation and country-by-country reporting released for public comment


New time limits for issuing VAT invoices


  • Artificial transactions criteria
  • VAT amendments
  • Additional tax imposed on income from leases
  • Payment from damages awarded
  • Offsetting of payments with taxes owed


  • A new treaty for the avoidance of double taxation (“DTT”) entered into force between Cyprus and Ukraine on January 01, 2014
  • Enlargement of transparency countries list on exchange of tax database

Download: Rokas Taxation Newsflash – February 2014.pdf

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