Major developments are currently in progress with regards to Intellectual Property (IP) tax regimes driven by OECD initiatives. These initiatives will have great impact on IP companies wishing to benefit from such beneficial tax regimes. Special transitional rule will exist for those IP companies that are currently benefited from the existing IP tax regimes and those companies that will enter such regimes prior to 30th June 2016. These companies will be able to benefit from the existing IP tax regimes up until 2021.

Our Cyprus member firm, Kinanis LLC has produced a Tax Update which gives a more detailed analysis of the changes proposed by OECD and most importantly examines the effects of the changes on the Cyprus IP tax regime. It gives also insights on what can be done to ensure that the benefits of the Cyprus IP regime - the most attractive IP regime in Europe, can still be enjoyed after 2021. This Tax Update is available to download from KinanisLLC web site: www.kinanis.com