Cyprus steps out to defend its tax regime | Index2Day

Cyprus, along with Luxembourg, British Virgin Islands and the Seychelles have been rated "non-compliant" with international tax transparency norms.

The OECD raised concerns on Cyprus failure to respond to tax information requests. Another concern the OECD has is that only about 23 percent of Cyprus-based corporations filed income tax returns with the government between 2008 and 2012. The low number of filings may have accounted for a lack of government oversight and resulted in Cyprus not exchanging up-to-date tax information with other jurisdictions, the report said. 

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