News

P. Constantinou & Co. Ltd

2019 | Cyprus Temporary Tax

26/6/2019 Companies which expect to have taxable income for the year 2019 and individuals, who have income other than employment income, must pay the first installment of the temporary tax by 31 July 2019. The tax, calculated as 12.5% on the taxable income for companies, is payable in two equal installments – the first by 31 July 2019 and the …

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P. Constantinou & Co. Ltd

Update: Company Annual levy tax for 2019

10/6/2019 We would like to inform you that the final date for the annual levy tax for the year 2019, which is €350 per company, must be paid by 30 June 2019 at the latest. If a company fails to pay the annual levy until the above deadline, then a 10% penalty is imposed if the payment is made 2 …

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personal income tax Cyprus

Deadline for personal income tax declaration

10/6/2019 We would like to remind our clients and associated of the following upcoming deadlines: 30 June 2019 Payment of Special Contribution for Defence (SCD) on rents received by Cypriot domiciled and tax resident individuals and Cypriot tax resident companies during the first 6 months of 2019 Payment of SCD on dividends and interest received from abroad during the first …

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Employment of Asylum Seekers and Students from Third Countries in Cyprus

24/5/2019 In a recent development, the Cypriot Labour Minister has accepted a request from local employers and companies to allow, under certain conditions, the employment of asylum seekers and students from third countries. According to a recent decree (5161, 17/5/2019), which follows a European Union directive, students who are nationals of third countries may work in Cyprus, in paid economic …

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Social Insurance and National Health Service contribution rates for 2019

Social Insurance Contributions rates As from 1/1/2019 the social insurance rates for both employees and employers has increased by 0.5% on the insurable earnings of the employee. Therefore the rates for social insurance contributions as from 1/1/2019 are 8.3% (increased from 7.8%) for both employees and employers. The maximum amount of insurable earnings has been revised upwards from the previous …

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The Tax Department has recently released an Informative Guide

The Tax Department has recently released an Informative Guide, in Greek, regarding Benefits in Kind. The Informative Guide explains the treatment of certain benefits offered by employers to employees, directors and other persons who hold or are deemed to hold an office.   Το Τμήμα Φορολογίας έχει εκδώσει πρόσφατα Ενημερωτικό Έντυπο που αφορά τις Παροχές σε είδος.  Το Ενημερωτικό Έντυπο …

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Social Insurance updates

The Department of Labour has announced a few changes to take place from September 2017. A penalty of €500 will be applied for each employee working without being registered at the social insurance office, this is multiplied by the months of non-registration. Each employer has the responsibility to provide the details of the new employee at the social insurance office …

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ΕΚΣΤΡΑΤΕΙΑ ΤΜΗΜΑΤΟΣ ΦΟΡΟΛΟΓΙΑΣ

ΕΠΙΣΚΕΨΕΙΣ ΣΕ ΥΠΟΣΤΑΤΙΚΑ ΕΠΙΧΕΙΡΗΣΕΩΝ Το Τμήμα Φορολογίας ενημερώνει ότι, στα πλαίσια της υλοποίησης του στρατηγικού στόχου για αύξηση της εθελούσιας φορολογικής συμμόρφωσης, Λειτουργοί του Τμήματος θα πραγματοποιήσουν, σε Παγκύπρια βάση, από τις αρχές του Αυγούστου 2017, επισκέψεις σε υποστατικά επιχειρήσεων. Σκοπός των επισκέψεων είναι η ενημέρωση των φορολογουμένων σε σχέση με φορολογικές υποχρεώσεις που πιθανόν να βρίσκονται σε εκκρεμότητα, η …

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Recent Tax Law Amendments

Certain Tax Law amendments have taken place in July 2015 in order to: Harmonise and align the Cyprus tax system with relevant EU guidelines Simplify the Cyprus tax system and making it more attractive Strengthen the use of Cyprus companies in international tax structuring Provide incentives for investment & relocation to Cyprus Income Tax related: Extension of Exemptions of income …

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International Services Forum of Enterprise Worldwide (EW) 2015

P. Constantinou & Co Ltd is proud to announce that it will be hosting the upcoming 2015 International Services Forum of Enterprise Worldwide (EW), an international association of accountants and advisors. The forum will be held at Amathus Beach Hotel on the 27th to 29th September 2015. The two day seminar will explore Cyprus companies in International Tax Planning, LinkedIn …

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