KPMG In Cyprus Participates In 6th Cyprus International Tax Conference

09:26 - 21 February 2023

Financial Services

KPMG in Cyprus supported and participated, for yet another year, in the 6th Cyprus International Tax Conference that was held on February 14. The new tax developments and trends at international and European level were discussed and analysed during the conference.

Participants also discussed the need for a holistic reform of the Cypriot tax framework, in order for Cyprus to remain an attractive foreign investment destination and by extension become established as a modern and flexible financial centre, ready to fully respond to the needs of a changing and constantly evolving business environment.

KPMG in Cyprus was represented by Costas Markides, Board Member, Head of International Tax Services.

Markides participated in a discussion on the developments surrounding the European Directive on the establishment of rules to prevent the abuse of entities lacking substance (Shell companies), if adopted in its current form, as well as on the impact the adoption of the Directive has had in Cyprus when it comes to the automatic exchange of information on reportable cross-border arrangements (DAC 6).

It is worth noting that during the panel discussion over the urgent need for a holistic tax reform, Markides proposed the establishment of a national tax policy and planning committee, composed of government officials and private sector technocrats, in order to continuously monitor international developments and best practices for the purpose of adjusting our tax framework on a timely and effective manner, where and when needed.

KPMG In Cyprus Participates In 6th Cyprus International Tax Conference

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