Cyprus is a jurisdiction that offers many advantages for holding companies. It is often described as an offshore jurisdiction, but Boris Lazic, Michalis Zambartas and Chris Damianou of Eurofast Taxand explain that this is not the case, it simply has the benefit of having the lowest corporate income tax rate in the EU.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year