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Foreign travel advice Indonesia
FCDO advises against all travel to parts of Indonesia.
Foreign travel advice Romania
Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).
Foreign travel advice The Gambia
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).
Foreign travel advice China
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).
Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
Tax Circular clarifying income eligible for 50% exemption from personal tax
We have reported several times in the past about the very attractive personal tax exemption of 50% of employment income of a non-resident person taking up residence in Cyprus to work for an employer in the country.
The exemption was introduced in 2012 aiming to attract foreign companies or groups to establish themselves or, as is usually the case, transfer their base and substance of operations in Cyprus. The exemption is available on any of the years in which such income exceeds EUR100,000 and is effective over a period of 10 years.
It was so far understood that the exemption applies strictly to employment remuneration. However, the Cyprus Tax Authorities, through Circular 2018/17 issued on 9 February 2018, clarified that the exemption is also applicable on any remuneration from acting as a Non-Executive member of the Board of Directors of the same company in which the eligible person is also acting as an Executive Director.
The Circular was issued in furtherance to several clarifications on the same matter, which were made through Circular 2017/4, which we have covered through a previous newsfeed.
Article supplied by the Fiducenter