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Cyprus Consents to All Pillar 2 Safe Harbors and Administrative Guidance

30 July 2024

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Proposed Changes

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Cyprus

The Cyprus Ministry of Finance has issued a release announcing that Cyprus has consented to all safe harbors and administrative guidance issued by the BEPS Inclusive Framework for the Pillar 2 Global Minimum Tax. The release notes that, despite not being a member of the Inclusive Framework, Cyprus supports the two-pillar solution and, as required by Article 32 of Council Directive (EU) 2022/2523 of 14 December 2022, Cyprus provides its full assurance and consent to the Safe Harbor rules as provided in the OECD Pillar 2 guidance issued in December 2022, July 2023, December 2023, and June 2024. Note that...