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Archives for News & Updates

New coronavirus support plans for October 2020

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…

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2019 Income Tax Return deadline extended

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…

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2020 Cyprus employment support schemes

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…

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2019 income tax declaration submission

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…

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Various Amendments to the VAT law

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…

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Intellectual Property system in Cyprus amended

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…

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