Clarification on Cyprus financial assets reporting obligations (natural persons)

[dandiskahn]

I know in Cyprus there is no capital gain tax on securities and non-doms must pay only 2.65% on dividends for Gesy.

But for the sake of the argument let's say a non-dom resident owns accumulating ETFs and other securities that don't distribute dividends (so that not even the 2.65% tax is ever owed).

In that case, would it be mandatory to report the financial assets you own each year in your tax return, if they do not generate taxable income during the tax year? Is there such an obligation? I can't find any definitive answer on this.

Obviously I'm talking about assets purchased with clean money, proof of funds available, a normal investment portfolio.

Thanks.

 

[drphantom]

My accountant has informed me that, regardless of whether something is taxable or not, it must be included in the tax declaration submitted to the tax authorities in Cyprus.

 

[CyprusLaw]

I know in Cyprus there is no capital gain tax on securities and non-doms must pay only 2.65% on dividends for Gesy.

But for the sake of the argument let's say a non-dom resident owns accumulating ETFs and other securities that don't distribute dividends (so that not even the 2.65% tax is ever owed).

In that case, would it be mandatory to report the financial assets you own each year in your tax return, if they do not generate taxable income during the tax year? Is there such an obligation? I can't find any definitive answer on this.

Obviously I'm talking about assets purchased with clean money, proof of funds available, a normal investment portfolio.

Thanks.

Everything should be reported, as correctly mentioned below. However it will be marked as non-taxable