Cyprus tax authorities issue clarification note regarding Bilateral Agreement with the United States
|Tax Alerts, Information Reporting, Infor ...|United States, Cyprus
The bilateral Competent Authority Agreement for the exchange of Country-by-Country reports between Cyprus and the US, which is still under negotiation, is expected to be effective for reporting financial years (RFYs) beginning on or after 1 January 2023.
A secondary filing mechanism for a Cypriot Constituent Entity (CE) of a multinational enterprise group with a US tax resident Ultimate Parent Entity applies for RFYs beginning during calendar year 2022.
Cypriot CEs that have already filed notifica…
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