Cyprus: Transfer Pricing (TP) framework in Cyprus

Explore the new Transfer Pricing (TP) framework in Cyprus developed by WTS Cyprus. The framework is divided into the following topics:

1. Transfer Pricing Framework in Cyprus:

• 2017-2021: Introduction of initial TP rules: While the arm's length principle has been a part of Cyprus's tax landscape for several years, formal TP rules were first introduced in 2017.
• Since 2022: Expansion of TP framework: In response to evolving international standards, Cyprus has broadened its TP rules and documentation requirements.    
   

2. TP Documentation and Filing Requirements:

• Master file obligation
• Local file obligation
• Summary information table
• Simplification measures
   

3. Statutory and Other Requirements:

• Deadlines and penalties
• Mandatory disclosure requirement (MDR) – Council Directive (EU) 2018/822 (DAC6) and other implications

For a more detailed exploration of these topics, please refer to the attached PDF.

Source: WTS Cyprus

For further information please visit the following link:  Cyprus TP Framework - Overview