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Financial support program for the effect of the coronavirus

Dear clients and associates,

Taking into consideration the measures that the Cypriot Government has introduced to avoid the spread of the coronavirus in Cyprus and to reduce the financial and social impact of such measures for companies, employees, employers, and the public in general, several steps were taken, as summarized below.

The following businesses will be closed from today 6 am for four weeks:

  • Department stores and shopping malls. The same applies to shops irrespective of their nature or size inside shopping malls. Supermarkets inside shopping malls may remain open provided that special health safety measures are applied.

  • Restaurants, cafes (except those offering delivery services)

  • Clubs, cinemas, theatres, other entertainment centers, and amusement parks

  • Libraries

  • Museums and archeological sites

  • Casinos and betting shops

  • Sporting establishments

  • Hairdressers and beauty salons

  • Hotels (operations suspended until 30 April 2020)

The following businesses will remain open:

  • Supermarkets (assuming no more than 1 person (including employees) per 8 square meters is present within the same area)

  • Pharmacies

  • Private medical centers

  • Food markets

  • Bakeries and confectionaries

  • Petrol stations

  • Kiosks

It is noted that retail businesses that do not fall under the category of businesses that must close, can continue their operations, as long as there are less than 5 employees in the workplace. Furthermore, for serving the public, all businesses of the private and public sector must ensure that no more than 1 person per 8 square meters is present in the reception area.

Below is a list of measures and compensation introduced:

  • Postponement for two months of the additional contributions to the National Health Scheme (GESY, GHS) which was due to start this month

  • VAT to be reduced to 17%  from 19% for 2 months and from 9% reduced rate to 7% reduced rate for 3.5 months upon approval of the legislation

  • Postponement of the obligation of companies to submit VAT payments for 2 months

  • Four weeks ‘special’ parental leave who work in the private sector with children aged up to 15. A parent with a salary of up to €2.500 for the first €1.000 will receive a 60% special leave allowance, while for the next €1.000 a 40% allowance will be paid. In the case of single-parent families, the ratio will be 70% and 50%, respectively. If the salary exceeds €2.500 then no special leave allowance is given.

  • A special support scheme for all companies covered by yesterday’s decision that will suspend their operation or will continue to operate and see a decrease in turnover of over 25%. This is so as to avoid employees losing their jobs. Employees will receive unemployment benefits for as long as the company is not operating. Employees who face special health problems and are included in the list which the Ministry of Health will announce and need to stay home to protect their health will receive a €800 grant on a monthly basis. To help self-employed workers sickness benefits will be paid in the same way as employees, from the fourth day instead of the ninth as it is today. It was also decided to extend the timeframe to file objections to Social Security for self-employed for one month until 30 April 2020.

  • Postponement for 2 months of the Income tax declaration of companies for 2018

  • A price ceiling on items such as face masks and antiseptics to prevent profiteering

  • Sick leave for those required to self-isolate or quarantine

  • A €750 allowance to students who will remain abroad during the Orthodox Easter holidays because of the measures

  • The public service will operate with a safety staff and work will be done from home wherever possible. This comes into effect on Tuesday 17th March.

Please also note that our office will remain open with the same working hours, however, due to the coronavirus situation and the severe measures issued by the Cyprus government we are currently running understaffed since some employees are on mandatory leave.

Client service will be primarily be done by phone, email, fax, and other electronic means. We urge our clients, visitors and business partners to reduce their visits to our offices to a minimum and to contact us regarding their questions or clarifications they might have using the phone, email or fax.

If you would like to visit our office to deliver hard copies of the necessary documents please do so.

Αγαπητοί πελάτες και συνεργάτες,

Έχοντας υπόψη τα μέτρα που λήφθηκαν από την Κυπριακή Κυβέρνηση για την αποφυγή της εξάπλωσης του κορωνοϊού στην Κύπρο, και για την μείωση του οικονομικού και κοινωνικού αντίκτυπου των εν λόγω μέτρων προς τις εταιρείες, τους εργαζόμενους, τους εργοδότες και το ευρύτερο κοινωνικό σύνολο, έχουν εκδοθεί σχετικές οδηγίες.

Για περισσότερες πληροφορίες παρακαλώ όπως δείτε τα συνημμένα έντυπα.

Σημειώστε επίσης ότι το γραφείο μας θα παραμείνει ανοικτό και θα ισχύουν οι ώρες λειτουργίας, αλλά λόγω της κατάστασης που διαμορφώθηκε με τον κορωνοϊό, όσον αφορά τα αυστηρά μέτρα που εκδόθηκαν από την Κυπριακή Κυβέρνηση, υπάρχει υποστελέχωση του γραφείου, λόγω του ότι κάποιοι υπάλληλοι της εταιρείας είναι σε υποχρεωτική άδεια.

Η εξυπηρέτηση των πελατών θα γίνεται πρωτίστως μέσω τηλεφώνου, ηλεκτρονικού ταχυδρομείου, τηλεομοιότυπου και άλλων ηλεκτρονικών μέσων.

Παροτρύνουμε τους πελάτες μας, επισκέπτες και συνεργάτες να μειώσουν τις επισκέψεις τους στο ελάχιστον και να επικοινωνούν μαζί μας σχετικά με τυχόν απορίες ή διευκρινήσεις μέσω τηλεφωνικής επικοινωνίας, ηλεκτρονικού ταχυδρομείου ή τηλεομοιότυπου.

Στην περίπτωση όπου θα θέλατε να επισκεφθείτε το γραφείο μας για να παραδώσετε τυχόν έντυπα παρακαλώ μη διστάσετε.  

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