Trademark Law

Background Information — the “IP Box“
On 21 June 2012 the House of Parliament approved an amendment to the Income Tax Law, No. 118 of 2002 which relates to the tax regime of intellectual property assets, and which is of particular interest to IP owners. In accordance with the new article 9[1](e], which is retrospectively effective from 1 January 2012, expenses for the acquisition or development of intellectual property assets (patents, trademarks, copyrights etc.) are tax allowable. The expense is allocated evenly in five years, starting from the year of acquisition or development of the intellectual property asset.

In addition, 80% of the profit from use of assets (i.e. royalties] or from sale of assets, after due deduction of expenses to acquire or to develop a asset — is deemed to be an expense and it is exempt from taxation. Therefore, only 20% of the respective royalties or proceeds from sales of intellectual property asset is taxable. In order to make use of these new provisions, an intellectual property asset must be recognized as an asset on the balance sheet of the Cyprus company.

• Registration and Renewals of Trademarks and Branding in Cyprus Trademarks Registry, OHIM and WIPO.
• Assisting and advising on managing of trademarks (Licensing, Franchising, State and Distribution Agreement).