Nicosia – Cyprus has introduced a €1.000 fee on tax rulings, effective immediately.

The Cypriot Cabinet issued last week Decree No.130/2016 relating to the tax rulings issued by the Commissioner of Taxation for Income and Corporation tax purposes.

The Decree introduces an administrative fee of €1.000 payable by a tax payer on the application of an interpretation ruling request letter to the Commissioner of Taxation relating to specific transactions.

This fee is increased to €2.000 in case the taxpayer would like to use an expedite process.