Cyprus Intellectual Property (IP) Box Regime
The new IP regime (IP Box) as amended and applied from 1st July 2016, was amended in respect of Income Tax Law. The aim was to align the existing Cyprus IP tax legislation with the clause 5 of the Base Erosion and Profit Shifting (BEPS) project of the OECD.
This legislation includes specific transitional provision for Intellectual Property assets that exist under the current IP box regime. Now, taxpayers will continue receiving benefits from the current system for up to five years. The new IP tax regime shall apply after the period.