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EC Directives

Cyprus, upon becoming a member of the European Union on 1 May 2004, has fully adopted the EC Directives amongst which those which aim to achieve a uniform taxation policy between the 27 Member States. The major EC Directives which have been consolidated in the Cypriot taxation Laws are the following:

  • EC Parent/Subsidiary Directive – Aims to ensure no taxation in transactions between parent and subsidiary companies situated in different Member States
  • EC Mergers Directive – Aims to ensure no taxation on company reorganization between different Member States
  • EC Interest and Royalty Directive – Aims to reduce withholding taxes on payments of interest and royalties between Member States.
  • EC Savings Directive – Aims to ensure taxation of interest income in one EU Member State.