Beyond the boundaries

Throughout the world, capital is becoming ever more mobile and responsive to changes in economic and social conditions. Barriers to capital movements are fast disappearing and this has led to a worldwide trend towards lower tax rates. Tax differences have become a very significant factor in commercial decisions and hence the development of numerous financial centres in the world. Cyprus has succeeded in differentiating itself from other financial centres. It has a favourable tax system with a wide network of double tax treaties. As a result, Cyprus today is firmly established as a reputa...