In order to facilitate and encourage the restructuring of non-performing loans the Cyprus tax laws were amended to temporarily exempt loan restructurings from tax. The amendments are applicable up to 31.12.2017. The amending legislation was published in the Cyprus Government Gazette on 31.12.2015.
The amendments affect the Income Tax Law; the Capital Gains Tax Law; the Special Contribution to the Defence Fund Law; the Stamp Duty Law; the Collection of Taxes Law; Value Added Tax Law; and the Department of Lands and Surveys (Fees and Charges) Law.
Theodorou Law is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law.
