CYPRUS TAX DEPARTMENT: APPLICATION OF ARTICLE 33 OF LAW 187 (I)/2015
Circular 2016/15, issued on 24 November 2016, by the Cyprus Tax Department, defines the application of Article 33 of the Income Tax Law (118(I)/2002), as amended in 2015 (187(I)/2015). Article 33 enables the tax authorities to adjust and regulate transactions between related parties on terms which, according to the authorities, differ from those which would apply to similar transactions...