A reminder for the provisions of the Special Contribution for the Defence (“SDC”) Law with respect to accounting profits being subject to the deemed distribution provisions. These provisions apply in cases where a company with Cyprus tax resident shareholders has not distributed at least 70% of the accounting profits earned for a specific year.

Please feel free to contact us for relevant details as deadline is 31 December 2013 for 2011 profits.

See our tax calendar for relevant deadlines. http://sfa-advisors.com/tax-calendar/