The plans mainly aim to support the Tourism Industry and the related/associated companies that are affected by the sharp decline of tourist arrivals and other affected industries, for the 2020 season. The last date for applications for participation in the…
The deadline for submitting an electronic form for the Individual Income Tax Return for 2019 by employees and pensioners whose gross income exceeds € 19.500, as well as the payment of the final tax (self-assessment) for 2019, is extended until…
Updated 23/10/2020 Cyprus | On 7/10/2020 the Council of Ministers approved proposals of the Minister of Labour, Welfare, and Social Insurance for the immediate implementation of Employment Support Plans, totaling 31 million euros. The programs are: 17 million euros for…
New coronavirus support plans for September 2020 The Cyprus ministers’ cabinet announced on September 3rd that it approved the continuation of the existing coronavirus support plans until the end of October 2020. These plans are aimed to support mainly the…
The Tax Department announced that the Individual Income Tax Return for the tax year 2019 is available for submission at https://taxisnet.mof.gov.cy through the TaxisNet system. Α necessary condition for the submission of the above Declaration is the electronic registration in…
A bill amending the Assessment and Collection of Taxes Law was passed on the 31st of July and was published in the Cyprus Government Gazette on the 20th of August. The following amendments, as described in Circular 46 issued by…
Various Amendments to the VAT law On 20 August 2020, the Cyprus Parliament passed the below amendments to the VAT law which officially came into force immediately after its publication in the Official Gazette of the Republic. A new definition…
The following amendments are effective from 1 January 2020. Existing provisions – Summary Intellectual Property capital expenditure is capitalized and capital allowances are claimed throughout the useful life of the asset with a maximum useful life of 20 years. New…
On 10 August 2020, Cyprus and Russia concluded the negotiations of a new protocol to modify the existing provisions of the Cyprus-Russia tax treaty. The intention of both countries is for the reviewed withholding tax rates to be effective from…
The Ministry of Labour announced the new plans for the support of companies and employees affected by the new coronavirus. These plans will be valid for the period from 1st August 2020 until the 31st of August 2020. The plans…