Cyprus Income Tax and VAT authorities with regards to the treatment of Oil and Gas exploration sector. profits are taxed at the normal corporation tax rates
Cyprus may be one of the new sources of natural gas in new energy infrastructure linking Europe with these facilities. This is the third largest discovery in the last decade. The previous two were in Israel.
Contracting in the Oil & Gas sector is a highly qualified well paid vocation that covers virtually the whole globe when it comes to location sites. Due to the enormous scope of territories this can make it a very complex field to deal with when it comes to salary payment, taxes and paperwork with each job varying significantly in its requirements.