General Healthcare System and Social Insurance contributions in Cyprus for the year 2021 will remain the same as in 2020. Cyprus 2021 Social Insurance Contributions: Please note that the Social cohesion fund is calculated on total remunerations and has no…
As of 11 January, Cyprus will revert to the normal 9% VAT rate (instead of the reduced 5%) for passenger transport, restaurants, hotel accommodation, and catering services. The reduced 5% vat rate period expired on 10 January 2021 after being…
For Companies (Summary) The government on 9/2/2021 announced additional support schemes for businesses and the self-employed affected by the latest measures. The support plans include grants, payroll subsidies, loan repayment suspension, rent holidays and tax breaks. The direct assistance to…
The dates listed below are Public Holidays in Cyprus. On these dates, all public services, private companies, banks, and shops are closed, although many shops and certain services remain open in some areas, mainly coastal areas, busy shopping streets, and…
The Cyprus Ministry of Labour announced the plans for the December period after the recent peak in coronavirus cases, promising to further support companies and employees during 2021. The plans mainly aim to support the Tourism Industry, businesses, employees, and…
The exemption aims to maintain the appeal of Cyprus as a country and to attract employees by creating real infrastructure for businesses and help to establish new investments. The Income Tax Law has been amended in December 2020, to extend…
Cyprus tax resident companies have the obligation to declare at least 70% of their accounting profits of 2018 by the 31st of December 2020. The resulting 17% special contribution for defence and 2.65% National Health Contribution (GESY) must be paid…
The plans mainly aim to support the Tourism Industry, businesses, employees, and the related/associated companies that are affected by the sharp decline of tourist arrivals, and the new restrictions in movement and business operations. The below plans concern the period…
Temporary Tax 2020 Companies that expect to have taxable income for 2020 must pay the second instalment of the temporary tax by 31st of December 2020. The temporary tax is paid only using the JCCSMART website. The tax is calculated…
Cyprus will introduce two new corporate tax measures in order to fight ‘Aggressive Tax Planning’ (ATP) in a move to emphasize its commitment and willingness to support the relevant European Commission’s initiatives and be harmonized with several related guidelines and…