The Cyprus Tax Department has announced the publication of the reference rates to be used in 2025 to determine the notional interest deduction (NID) for new equity investments. Under the rules, the NID rate is equal to the 10-year government bond yield of the country in which the assets funded by the new equity are utilized (the reference rate), increased by 5%. The reference rates for a particular year are determined based on the rates as at 31 December of the year preceding the tax year. Click the following link for the reference rate table, which includes the rates for...