Cyprus completes ATAD adoption
Following the partial adoption of Council Directive 2016/1164 of July 12, 2016 on the establishment of rules on tax evasion practices (ATAD I) in 2019, on June 19, 2020, the Cypriot parliament voted in favor of the law on the remaining provisions of ATAD I. Directive against tax avoidance of May 29, 2017 (ATAD II). The law was published in the Official Gazette of July 3, 2020.
It is noted that these measures should affect companies and groups of companies engaged in international activities.