Status
In force
Introduced
1963
Legislative reference
Stamp Duty Law L19/1963
In scope instruments
Securities
Taxable event (transaction)
- Issuance of securities.
- Agreements in relation to the sale of securities.
Territorial connection for liability –condition for taxability is:
Residence of issuer?
Yes
Location of transaction (e.g. traded on local stock exchange)?
N/A
Location of party (e.g. at least one party to the transaction is resident)?
N/A
Residence of financial intermediary?
N/A
Other relevant conditions for taxability
The Cypriotic Stamp Duty is applicable on agreements relating to assets/matters in Cyprus (such as agreements on securities of Cypriot companies).
Exempt transactions
Agreements for the sale of securities if listed on a recognized stock exchange.
Agreements for the sale of securities if listed on a recognized stock exchange.
The buyer unless otherwise stated in the agreement.
Liable persons
The buyer unless otherwise stated in the agreement.
Person who in practice bears the tax
The buyer unless otherwise stated in the agreement.
How enforced
Liable persons have to submit the agreements to the Stamp Duty Officer and settle stamp duty within 30 days from the day the agreement is signed.
Penalties in case of failure to file/pay
Penalties vary depending on the initial stamp duty amount and the length of delay but generally 20 percent of the amount of stamp duty due.
Tax base
Value as per agreement
Tax rate(s)
0.15 percent on the first 170,860 euro (EUR) plus 0.2 percent on amounts above EUR170,860 and in principle capped at EUR17.086. On contracts without fixed sum the amount is EUR34.17.
Cap/Floor/Threshold/Allowance
See above
Other comments
N/A