During the past few months, it was highly under discussion the matter raised by the Russian President, Vladimir Putin for the changes he is willing to make in the Russian Double Tax Treaties with various countries by increasing the withholding taxes on dividends and interests to 15%.
Cyprus is ready to introduce an updated and more attractive Citizenship by Investments Program (Cyprus Investment Program, CIP). On July 31st the Cyprus Parliament voted the revised legislation and regulations of the Cyprus Investments Program (CIP).
GHS (GESY) contribution rates from July 2020 are increased as follow:
See rates below
- 2,65% for employees,
- 2,90% for employers and
- 4% for self-employed