A trustee, receiver, guardian or committee in control of the property of any person is chargeable to tax in a representative capacity on behalf of the beneficiary.
A legal personal representative of a deceased person is chargeable to the tax for which the deceased would have been liable and is answerable generally for tax purposes in place of the deceased.
Income payable to or for the benefit of a person who was unmarried and under 18 years of age at the commencement of the year of assessment, in consequence of a disposition, including a trust, covenant, etc. is treated as income of the disponer.
This information was correct as of 14 January 1997.
The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be obtained before any action is taken.
ARTICLE
26 March 1999
Personal Taxation - Trusts, Estates, etc.
KPMG in Cyprus
Contributor
KPMG has been operating in Cyprus since 1948 and currently employs more than 800 professionals working from 6 offices across the island. It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 143 countries and territories and has approximately 273,000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.