Cyprus

The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017, India’s Central Board of Direct Taxes has announced. According to the CBDT, both countries have now exchanged notifications informing the other of the completion of their respective ratification procedures for the revised agreement…

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that…