Cyprus To Amend Patent Box Regime
by Lorys Charalambous, Lowtax.net, Cyprus
30 December, 2015

Cyprus has announced that it will reform its patent box regime, in response to the OECD's BEPS Action Plan.
Currently Cyprus offers a very low rate of tax on intellectual property income of just 2.5 percent, under a framework introduced in 2012.
Preferential intellectual property tax regimes came under scrutiny as part of BEPS Action Point 5. In response, Cyprus has confirmed that it will make changes to follow the "modified nexus approach," which would limit the benefits of the regime to extent that a company can show that it itself incurred the expenditure, such as on research and development, that gave rise to IP income in Cyprus.
See all of today's news