The tax authorities of Cyprus announced that the interest yields of 10-year government bonds increased by 3% as of 31 December 2016, and that this represents the "reference rate" for purposes of granting tax allowances on new capital.
The "NID reference rate" constitutes the interest rate of the 10-year government bond yield (as at 31 December of the previous tax year), for the country where the new equity is invested or for the Republic of Cyprus—whichever is the greater—and increased by 3%.
The NID reference rate (the interest yield of 10-year government bonds) were announced for Cyprus, the Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, the UAE, and the United Kingdom as of 31 December 2016.
Read a March 2017 report prepared by the KPMG member firm in Cyprus
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