At the end of December 2019, the Cyprus – Kazakhstan Double Tax Treaty was signed by the President of Kazakhstan, which was previously ratified by Cyprus in May 2019. The Treaty will have full effect on the 1st of January…
The Cyprus Migration Department has made some changes regarding the regulation for bank guarantees for work permits and based on the new regulation, no bank guarantee is required to be submitted on behalf of the employer for the purposes of…
For the year 2020, Social Insurance contributions remain the same as in 2019 while, on 1 March 2020, contributions to the General Healthcare System will be increased. 2020 Social Insurance Contributions The Social Cohesion Fund contribution has no maximum…
Maximum annual tax deduction for life and private medical insurance premiums The Cyprus parliament has recently approved an increase in the maximum annual tax deduction for life and private medical insurance premiums, contributions to social insurance and National Health System…
The second instalment for the 2019 provisional tax is due by December the 31st. Payment of the above-mentioned tax can be made using the JCC Smart web portal and to pay the second instalment, a valid debit or credit card…
Date Postponement for the imposition of fines by the Cyprus Registrar Further to our previous update of the 2 October 2019, we would like to inform you that the Cypriot Parliament decided in a recent session to postpone the date…
We are more than happy to announce that our firm has opened a new branch office located in Polis Chrysochous, Paphos. The Paphos office provides audit, accounting and consulting services to local clientele. Contact our Paphos office: Tel: …
The Cypriot Council of Ministers recently adopted an amending bill that hopes to boost the state’s tax-collecting capacity through the mandatory filing of income tax return for everybody, and has also approved the obligation of companies to accept electronic payments….
VAT on building land 5% Recently the Cyprus Council of Ministers has come to a decision to provide a VAT refund to individuals who bought land for the construction of their primary residence in Cyprus. The purpose of this VAT…
As from 18 December 2019, the Registrar of Companies will impose administrative fines for late filing of the below notifications to the Registrar of Companies: Late filing of the annual return. The fine shall amount to €50 plus €1 for…