Are Cyprus' days numbered as tax favourable centre?

Cyprus’ corporate tax regime has made it an attractive location for international groups looking for a tax-favourable holding company location. Baker Tilly points out that with a 10% corporate tax rate, Cyprus along with Bulgaria had the lowest tax rate of any EU member state, with no capital gains tax, other than on Cyprus real estate. Further benefits include no withholding taxes when profits are distributed out of Cyprus. Along with a good network of tax treaties, subsidiaries can distribute profits to a Cyprus parent with little or no withholding tax cost. However, with the EU insist...