Cyprus Introduces New Public Country-by-Country Reporting Requirements
PGE & Co. has highlighted an important new tax transparency development in Cyprus, following the announcement by the Department of the Registrar of Companies and Intellectual Property that submissions for the new public Country-by-Country (CbC) reporting regime have commenced.
The new obligations apply to:
Where total consolidated revenue exceeds €750 million in each of the previous two consecutive financial years.
The introduction of public CbC reporting marks a significant step in enhancing corporate tax transparency and aligns Cyprus with broader international and European efforts aimed at increasing public access to information on where large multinational groups generate profits and pay taxes.
Affected businesses should review the new requirements carefully to determine whether they fall within the scope of the rules and ensure they are prepared to meet any applicable reporting obligations.
As transparency and reporting requirements continue to evolve globally, organisations operating across multiple jurisdictions are encouraged to assess the potential implications for their compliance and governance frameworks.
To learn more about the new public CbC reporting obligations in Cyprus, read the full insight from PGE & Co.:
