Cyprus Announces Plans to Amend IP Regime

On 30 December 2015, the Cyprus Ministry of Finance announced that it is planning to make amendments to the country's intellectual property (IP) regime. The changes will be made to align the IP regime with the guidelines developed as part of Action 5 of the OECD BEPS project, which include a modified nexus approach. This approach involves requiring a more direct connection between the activities of the taxpayer for IP development and the availability of relief under the IP regime.

Cyprus is…