The Cyprus Tax Department has announced the launch of a public consultation on the draft law for transposition of the EU Anti-Tax Avoidance Directive (Directive 2016/1164 - ATAD1) as amended (Directive 2016/952 - ATAD2). The proposed measures are in line with the standard provisions of the Directives, including the 30% of EBITDA interest deduction restriction, the exit taxation rules, the CFC rules, and the main purpose test (GAAR) of ATAD1, as well as the hybrid mismatch rules of ATAD 2. As drafted, the law would generally apply from 1 January 2019 with respect to the ATAD 1 provisions, and from...