We would like to inform our clients, associates, and partner firms that from the 1st of June 2022 our office hours have changed. From Monday to Thursday our office will be open as usual, from 08:00 to 17:00 in the…
If a violation is detected, the inspectors can issue a fine of 500 euros, multiplied by 7 months, unless the employer demonstrates that the infringement period was shorter.
In case of violation of the provisions of the Decree, an administrative fine of up to four thousand euros will be imposed.
Prohibitions do not apply if the trustee/beneficiary is an EU Member State national or holding a temporary/permanent residence permit in EU.
The deadline refers to the electronic submission of the 2020 corporate tax return (Form T.D.4) and is also related to self-employed individuals whose annual turnover surpasses €70.000 and who have the obligation to prepare audited financial statements.
Ukrainians in Cyprus: temporary protection, residency, access labor market, housing, medical assistance, education, company formation.
There are 5 different types of business entities that can be incorporated in Cyprus, all with different characteristics, offering certain advantages and disadvantages to their owners.
The “Cyprus Digital Nomad Visa” program allows citizens from non-EU and non-EEA countries, who can perform their work remotely, to temporarily reside in Cyprus. The applicants must work for an employer registered abroad or perform work through telecommunications technology for…
Cyprus – The Council of Ministers issued a Decree (February 2022) regarding income tax returns for 2021. The decree states that all individuals who during 2021 have an income not exceeding the amount of 19,500 euros are exempt from the…
Cyprus – The Tax Department informs (10/2/2022) that it is possible for Taxable Persons to pay the VAT for the period ending on 31/12/2021 in 3 equal installments payable on 10/2/2022, 10/3/2022, and 10/4/2022, without the imposition of additional tax…
The Inspection Service of the Ministry of Labor, Welfare and Social Insurance, will carry out, in February 2022, targeted inspections on a nationwide scale in various cleaning, security, business offices, and services companies in Cyprus. Purpose of the campaign The…
A list of FAQs about Transfer Pricing as published by the Cyprus Tax Department, aiming to clarify certain issues enquired by local Tax Professionals and groups of Companies that are either located, controlled or want to establish a presence on…
Cyprus – A proposal was approved by the Council of Ministers for additional measures to support workers and professionals that continue to be affected by the effects of the pandemic in 2020 and 2021. Hotel employees For hotel employees whose…
The house that will be built must be used as a primary residence and be subject to a reduced VAT rate of 5%.
New support measures were announced on Wednesday 26/1/2022 by the Minister of Finance, with a budget of around three million euros. The measures concern a plan for one-time subsidy support for certain categories of companies and self-employed workers, and the…
With an extensive network of Double Tax Treaties for the Avoidance of Double Taxation with over 60 countries, Cyprus can offer a wide range of solutions for companies, corporations, and individuals. We have updated our DTT list to incorporate the…
General Healthcare System and Social Insurance contributions in Cyprus for the year 2022 will remain the same as in 2021. (Article updated 11/1/2022) Updated 2023: Cyprus Social Insurance and General Healthcare System contributions >> Cyprus 2022 Social Insurance Contributions: Please…
The dates listed below are Bank and 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, busy shopping streets, and resorts….
Cyprus – The Ministry of Energy, Commerce, and Industry, through the Department of Companies Registrar, announced a new three-month extension for the payment of the annual levy of 350 euros, for all companies. The deadline for payment by registered companies…
The amendments affect Companies’ tax residency, royalties, dividends, interest, and Loan restructuring Tax reliefs.
The Minister of Labor, Welfare, and Social Insurance announced the Plan for Temporary Suspensions of businesses in the Tourism Industry for the Winter Season 2021-2022. The aim of the emergency measures is to address the seasonality and the effects of…
Temporary Tax 2021 Companies that expect to have taxable income for 2021 must pay the second instalment of the temporary tax by 31st of December 2021. The temporary tax is paid only using the JCCSMART website. The tax, is calculated…
We would like to remind you that the final date for payment of the 2021 annual levy tax, which is €350 per company, must be paid by the 31st of December 2021 at the latest. If a company fails to…
We would like to inform you that from Monday 15/11/2021 our Firm will be moving to our new office building in Agios Athanasios which is located only 5 minutes away from our current office in Limassol (Mesa Gitonia). The new…
The Ministry of Labor, Welfare, and Social Insurance would like to inform mothers who are on maternity leave during the week ending Sunday 7 November 2021, that maternity leave is increased by 4 weeks if it is a second childbirth…
Despite the recent further decrease in unemployment numbers in Cyprus, The Ministry of Labour, Welfare, and Social Insurance announced new plans to support the employment amongst the unemployed, the ages between 15-29, persons with disabilities, and others. The new or…
The Cyprus Ministry of Labour announced the support plans for the October 2021 period. The plans concern the period from October the 1st until October 31st, 2021. The plans will be available from Friday, October 29th, and the last date…
The Cyprus government presented recently, this October, a new strategy to attract companies and employees to the country, giving an emphasis on high-tech, research, innovation, shipping, and pharmaceutical companies. The implementation of the strategy is anticipated to start in January…
The Cyprus Ministry of Labour published the support plans for the September 2021 period. The plans concern the period from September the 1st until September 30th, 2021. The plans will be available from Thursday, September 30th, and the last date…
The Tax Department announced a new extension to the deadline for submitting the Company Tax Return (TD 4), and the Self-employed (with Accounts) Income Statement for the tax for Year 2019. The new deadline was set for 30th of November…