Regulatory Blog

The Income Tax (Amendment) Law 2026 was officially published in the Gazette of the Republic of Cyprus on 6 March 2026. The Income Tax Amending Law introduces amendments to the existing Income Tax Law 2002, as amended, with the following key provisions:

The Organisation for Economic Co-operation and Development released its 2025 update to the Model Tax Convention on Income and on Capital on 18 November 2025, introducing significant changes that will reshape the international tax landscape. These updates provide critical guidance on the taxation of cross-border remote work and income from natural resource extraction, aiming to offer greater certainty for governments and businesses alike.

On 19 March 2026, Luxembourg formally adopted DAC8 transposing the Council Directive (EU) 2023/2226 enacting far-reaching tax transparency rules that apply retroactively from 1 January 2026, with first reporting due by 30 June 2027. This law mandates compulsory reporting for a broad spectrum of crypto-asset service providers and imposes significant enhancements on existing financial reporting standards.

On 15 December 2025, Cyprus and Vietnam signed a double tax treaty aimed at avoiding double taxation and preventing fiscal evasion concerning taxes on income.

This guide outlines the critical amendments to the Cayman Islands’ Common Reporting Standard Regulations, introduced by the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) (Amendment) Regulations, 2025, here. These changes represent a significant shift in the compliance landscape, aligning the jurisdiction with global OECD standards and the new Crypto-Asset Reporting Framework.

On 17 February 2026, the European Union updated its list of non-cooperative jurisdictions for tax purposes.

Recent amendments to the Cayman Islands' Common Reporting Standard regime have taken effect, introducing significant changes for Financial Institutions. These updates, which align the Cayman Islands with the OECD's global standards, impact everything from compliance deadlines to the scope of reportable assets and have taken effect from 1 January 2026.

On 29 January 2026, the British Virgin Islands International Tax Authority released updated lists for the Common Reporting Standard.

On 21 January 2026, the Cayman Islands Department for International Tax Cooperation announced an extension for certain reporting deadlines under the Amended Common Reporting Standard. This applies to Cayman Financial Institutions required to register and maintain information on the DITC Portal.

Cyprus has abolished stamp duty with effect from 1 January 2026 under Law 239(I)/2025. The Repeal Law was published in the Official Gazette on 31 December 2025 and repeals the prior Stamp Duty Laws of 1963 to 2025; instruments executed from commencement are no longer subject to stamp duty.

On 22 December 2025, the Plenary of the Cyprus House of Representatives approved a comprehensive tax reform package, which is marked as the most significant Cyprus tax development over the years. The new tax package was published in the Official Gazette of the Republic of Cyprus on 31 December 2025 and is effective from 1 January 2026.

The BVI Financial Investigation Agency (Returns) Order, 2025, has been published, introducing a structured framework for the submission of returns by Designated Non-Financial Businesses and Professions and Non-Profit Organisations. This Order, effective from 27 November 2025, clarifies reporting obligations and establishes a clear legal context for compliance. The Order, gazetted as Statutory Instrument No. 99 of 2025, formalises these requirements into law.