Cyprus adopts legislation implementing exit taxation and hybrid mismatch rules

Executive summary

On 19 June 2020, the Cypriot House of Representatives adopted the law to implement the provisions of the European Union (EU) Anti-Tax Avoidance Directive¹ (ATAD I) with respect to exit taxation rules, as well as, the provisions of the amending Directive² (ATAD II) with respect to hybrid mismatch rules (the Law). The Law will come into force once it is published in the Official Gazette of the Republic, which is expected to take place within two weeks from the enactment …