Cyprus is among the world’s top shipping centres, with a government policy which actively attracts investment to the island. This article looks at the features and exemptions which make it so attractive to shipping businesses.
I. Background
Since it became independent in 1960 Cyprus has recognised the importance and potential of shipping, and government policy has succeeded in attracting shipping entrepreneurs and developing the island into a major international shipping centre combining both a sovereign flag […]

Closely related Canadian corporations and partnerships often use an election under section 156 of the Excise Tax Act(Canada) to manage GST/HST on intercompany supplies of services and property (other than real property). The effect of the election is to deem every taxable supply between the electing parties to have been made for no consideration, resulting in no GST/HST payable. Until recently, the election was not required to be filed with the Canada Revenue Agency […]