April 2026 Digest(for the website)

April opens an active spring phase – a timeof new opportunities, project launches, and initiatives. We have compiled keynews and events that will shape the business rhythm of the month and influencethe entire year of 2026.

1.    Cyprus launches new tax incentives to attractforeign talent

Cyprus is strengthening its talent attraction policy through the“Minds in Cyprus” initiative: new tax benefits allow exemption of 25% of annualincome, up to €25,000 per year, for a period of up to 7 years.

The benefit appliesnot only to employees but also to the self-employed, making the regimeaccessible to a wider group of taxpayers with a minimum income of €30,000 peryear. Eligibility conditions include:

·  holding taxresidency in Cyprus;

·  individuals who havebeen Cypriot tax residents for 7 consecutive years are not eligible;

·  prior tax connectionwith Cyprus and work experience abroad (at least 3 years for higher educationor 7 years in other cases).

The new benefitcomplements existing regimes for those first employed in Cyprus andsignificantly expands them, including coverage for entrepreneurial activities.

2.    Italy prepares changes to the 2026 Budget

The Italian Ministryof Economy and Finance published a notice regarding upcoming amendments tothe Budget Law 2026, covering both customs regulation and tax incentives forbusinesses.

Key changes:

·  Postponement ofimport levy. The introduction ofa €2 administrative fee for processing imported goods valued up to €150 hasbeen postponed until June 30, 2026, due to the need to update customs ITsystems.

·  Super-depreciationfor technology investments. Athree-year super-depreciation regime is planned for investments intechnological and digital assets made between January 1, 2026, and September30, 2028.

3.    Cyprus extends tax filing deadlines

The Cyprus TaxDepartment announced that the deadline for filing the corporateincome tax return (TF4), individual tax returns with financial statements(TF1), and the summary table of controlled transactions (SIT) is March 31,2026.

BUT! an additionalgrace period is provided until April 30, 2026, during which documents can besubmitted without penalties or financial charges. The grace period is extendedto all entities required to submit relevant reporting, regardless of the mandatorypreparation of a control transaction table.

Thus, taxpayers havean additional month to file their returns without financial consequences, butthere is not much time left, so this is a reason to hurry.

4.     India expands CRS:crypto assets, CBDCs, and e-money included in automatic exchange of information

India published Notification No. 19/2026 in the officialgazette, amending tax reporting rules (Rules 114F, 114G, 114H) under theimplementation of the OECD Common Reporting Standard (CRS).

Key change: newcategories of digital financial assets are now officially included in theautomatic exchange of tax information system:

·  crypto assets

·  central bank digitalcurrencies (CBDCs)

·  certain e-moneyproducts

This means thatfinancial institutions and payment providers must collect and reportinformation on such assets to tax authorities if they belong to tax residentsof other jurisdictions.

5.     Panama setsreporting deadline - April 30, 2026

Panamanian companiesand private funds that are not active in the country or only hold assets must submit annualinformation to their registered agent by April 30, 2026. Reporting may includefinancial statements, abbreviated financial statements, an affidavit of noincome, or confirmation of no activity or assets.

Companies arerequired to keep accounting records for at least 5 years, report their storagelocation, and specify the responsible person. Any changes to this informationmust be reported to the agent within 15 working days.

Exceptions apply toPanamanian tax residents, public companies, and certain shipping structures.Non-compliance may result in fines ranging from $5,000 to $1,000,000 andrestrictions on corporate rights in the registry.

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