Executive summaryOn 3 February 2022, the Cypriot Tax Department issued an announcement which lists the 10-year government bond yield rates as at 31 December 2021 for a number of countries (listed on the table below) with respect to the Notional Interest Deduction (NID) on equity. These yield rates are to be used to determine the reference interest rate for claiming NID for the 2022 tax year. The key NID provisions and the applicability of the 10-year government bond yield rates are summarized below.Detailed discussionNotional Interest DeductionAs of 1 January 2015, Cyprus tax resident companies (as well as foreign companies with permanent...