In Cyprus there are strict laws that defend and protect anyone who produces original material of any sorts and it is subject to copyright.
Relevant amendments were passed over time, primarily of what can be considered as material that can be copied, and the final assessment is a combination of legal and practical questions. Lately there were tax incentives so to attract foreign registration of copyrights & patents.
Intellectual Property box regimes can be separated into two main categories. The first category gives reduced rates of tax on qualifying income. The second category gives an exemption of a specified proportion of revenues. This second category can be divided into a sub category of schemes that exempt a proportion of gross revenues and those that exempt a proportion of net revenues.
The modifications to the Income Tax Laws have been effective since January of 2012 and apply to all expenditure for the acquisition or development of intangible assets incurred by a person carrying on a business.
It has to be noticed that mobile applications cannot be registered as patents, but if there is an innovation on application as for example a design it can be patented independently and not as an existing patent.
Nowadays as we are sure you have already noticed the website content has at the bottom copyrighted material, when published. This is to make sure that the owner is covered by law when it comes to copyright for any material that is written on the website.
The wording is usually stating the following words:
Copyright @ (Name of the Author/Web developer/Company or Physical Person) and then 20XX (Year that copyrighted material is published on-line).
Some years ago some websites would use: “This is a copyrighted material and copying the text/images/content without the prior consent of the owner of the web pages was consisting of an offence or copyright infringement subject to further legal action/s against the person infringing such copyright content/material. Some of the website would even go to the length of not allowing the pressing of right click in order to select and copy past any of the written content.
In the past people would use the postal system to mail their work and by doing that their postal address was being registered therefore the receipt was used as evidence and the employee of the post office would be used as a witness so the actual owner could proof their work was their own. This was not a formal practice in the Cypriot Jurisdiction.
Lastly the IP rights either there are royalties or patents or copyright work, are exempt around 80 % on capital gains tax.Read More