Cyprus rated as “Largely Compliant” by the Global Forum on Transparency and Exchange of Information for Tax purposes
On October 30th 2015, the OECD released the results of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Among others, the Forum approved supplementary reports for Cyprus and, following significant changes to its legal framework and practices, the new overall rating of “Largely Compliant” was assigned to Cyprus.
As a result, Cyprus’ status has been updated from Non-compliant to Largely Compliant which establishes Cyprus both as an attractive holding company jurisdiction and a premier international business centre.
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