A Cyprus resident company is deemed to distribute as a dividend, under the deemed distribution rules, 70% of its accounting profits two years from the end of the tax year in which the profits were generated.
Deemed dividend distribution is reduced with payments of actual dividends which have already been paid out from the profits of the relevant year.
Special contribution for defence is charged to the extent that the ultimate direct and/or indirect shareholders of the company are individuals who are both Cyprus tax resident and Cyprus domiciled.
The above should be used as a source of general information only. It is not intended to give a definitive statement of the Law and is subject to the Disclaimer.
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