End of reduced VAT on electricity and selected products
It has been announced by the Ministry of Finance that from October 2024 the electricity subsidy and the 0% VAT which was previously...
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News
Stay up to date with news and updates on legal and financial news for you, your team and your company.
We constantly share with you announcements and changes about the tax system, social insurance, company registrar in Cyprus and many more, to ensure that you are informed about anything that it's important for your business.
Oct 1
Update of Beneficial Ownership information in the Beneficial Ownership Register
The Department of Registrar of Companies has announced that the Beneficial Ownership Register system will be open from 1st October 2024...
Jun 26
Extension for Submission of the 2023 TD1 to 31/10/2024
The Tax Department announces that, based on a Decree of the Council of Ministers dated 21st June 2024, 2023 (ΚΔΠ 209/2024), the...
Jun 21
Cyprus companies: 2024 Temporary tax first instalment
Companies that expect to have taxable income for the year 2024 must pay the first instalment of the temporary (provisional) tax by the...
May 22
Start of submission of Income Tax Return declaration for 2023
Cyprus May 2024 – The Tax Department announced that the submission of the Individual Income Return for 2023 through the TaxisNet...
Apr 19
Participation in the Replenishment Scheme of National Solidarity Fund
An electronic service launched by the Ministry of Finance to contribute to the partial replenishment of losses incurred in 2013 by...
Apr 16
FBME Bank Liquidation
FBME Bank Liquidation Please be advised that the liquidation of FBME Bank in Cyprus and Tanzania has finally commenced. This is extremely...
Feb 29
Annual Return (HE32) – changes to the late submission charges
The late submission fees for the Annual Returns has been set at €150 (previous fines were set €500) following the decision of the House...
Feb 26
Submit a Declaration of Withholding Taxes & Contributions (TD 7) for the year 2024 through the TAX FOR ALL (TFA) system
Following the migration to the «TFA» system, the Employer’s return form (TD 7) from 2024 onwards will be submitted on the «TFA» platform...
Jan 30
Extension of submission to the Register of Beneficial Owners until March 31 2024
We would like to remind you that during the period from 1st of December to 31st of December of each calendar year, all legal entities...
Jan 22
T.D.59 Claim for Allowances 2024 Form
The 2024 T.D. 59 form is now available on MINISTRY OF FINANCE - DEPARTMENT OF INTERNAL REVENUE All employers must distribute the form to...
Jan 15
Reduction of Special Defence Contribution for Passive Interest Income to 17%
On 6 December 2023 the Cyprus parliament voted in favour of reducing the Special Defence Contribution (‘SDC’) rate from 30% to 17% for...
Dec 30, 2023
Reminder: January 2024 - Increase of Minimum Wage
The Minister of Labour and Social Insurance announced on 20 December 2023 the increase of the National Minimum Wage after a meeting of...
Dec 18, 2023
2023 Temporary tax second instalment and Stock take reminder
Companies that expect to have taxable income for the year 2023 must pay the second instalment of the temporary tax by the 31st of...
Dec 15, 2023
Increase in Social Insurance & Notification of the 2024 Maximum Remuneration Limit
The Department of Labour Relations, Social Policy & Human Resources Development of CCCI informs you that as of 1/1/2024, both employers...
Dec 1, 2023
2022 Temporary tax second instalment and Stock take reminder
Temporary Tax 2022 Companies that expect to have taxable income for the year 2022 must pay the second instalment of the temporary tax by...
Nov 14, 2023
Announcement DRCIP – Commencement of the implementation of the final solution of the electronic system of the Beneficial Ownership Register
Announcement DRCIP-commencement of the implementation of the final solution of the electronic system of the Beneficial Ownership Register...
Nov 14, 2023
Announcement Tax Department – Levy on sales of immovable property
Announcement Tax Department / Levy on sales of immovable property The Tax Department has announced that they have issued tax assessments...
Oct 5, 2023
Increase in Social Insurance
Increase in Social Insurance The Department of Labour Relations, Social Policy & Human Resources Development of CCCI informs you that as...
Oct 2, 2023
Extension to the filing date of Income Tax Return IR1 2022
Extension to the filing date of Income Tax Return IR1 2022 The Cyprus Tax Department has announced that the submission of the 2022...
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