Reorganisations of Companies

With the tax reform in 2003 Cyprus fully adopted the providences of the directive 90/434/EC as it was amended later with the 2005/19/EC with regard to the common tax regime for mergers, divisions and transfers of assets and exchanges of shares concerning companies of different EU member states. Cyprus Tax Law even extends and applies to companies beyond EU member states as well as between indigenous companies. As a result, the Cyprus Tax legislation is more generous and it contributes a lot to the creation of such conditions and advantages that encourages the utilisation of Cyprus from multinational companies in their strategic planning.