The Cyprus Tax Department has announced that, within the first six months of 2025, the submission of the Employer’s Tax Declarations (TD7) and the payment of the PAYE will be made through the TFA system on a monthly basis. Until the process of submission the TD7 through the TFA system is complete, the following applies: The submission of the Tax Declaration TD7 up to and including the year 2023 will be through the TAXISnet system. The monthly payments of PAYE for the years 2023, 2024 and 2025 will be made through the Tax Portal. Following the commencement of submission, the TD7 through the TFA system, the following will apply: The submission of the Tax Declaration TD7 and the payment of the PAYE will be made exclusively through the TFA system. For the year 2025 and onwards, the submission of monthly TD7 returns will be mandatory. ALL monthly Tax Declarations TD7 for 2025 (from January) will have to be submitted, including those for which the PAYE payments were made through the Tax Portal. The Tax Identification Number (TIN) for each employee will be required for the filing of the monthly Tax Declaration TD7. The Cyprus Tax Authorities has issued specific questions and answers in Greek Language, which provide additional clarifications on the subject → PAYE Flyer for Taxpayers The starting date for submission the Tax Declaration TD7 and the payment of PAYE via TFA will be announced by the Cyprus Tax Department.

Based on the new Decree published by the Minister of Labour and Social Insurance on 28 February 2025, the deadline for the Employer's Obligation to register the Essential Terms of Employment for all employees in the «ERGANI» Information System is extended, with a deadline of 31 May 2025.

Last Friday, we came together as a team to celebrate International Women’s Day in a way that truly reflected our values, recognition, appreciation, and togetherness. At P. Constantinou, we believe in celebrating the people who make our workplace special, and this was the perfect opportunity to show our gratitude. Every woman in our team received a thoughtful gift and a beautiful pink rose as a small token of appreciation for their contributions, strength, and dedication. But we didn’t stop there! We wanted the celebration to be about unity, so we also made sure to include our male colleagues, gifting them a blue rose as a reminder that appreciation and respect are for everyone. The atmosphere was warm and filled with smiles as we shared this meaningful moment together. It wasn’t just about the gifts, it was about recognizing the amazing people we work with every day and taking a moment to celebrate as one team. A big thank you to everyone who made this event so special! Here’s to continuing to support and uplift each other, not just on International Women’s Day, but every day.

Today, we’re celebrating someone truly special—our amazing colleague and friend, Mika! Mikaella, your positive energy, kindness, and dedication make every day at the office brighter. You’re not just a great teammate; you’re the kind of person who makes work feel less like work and more like a shared adventure. We hope your day is filled with laughter, love, and everything that makes you happiest (including cake, of course!). Here’s to another fantastic year of being the incredible person you are! Happy Birthday, Mika!

Today, we’re celebrating a truly special member of our team, Chara Lambrou! Chara has been with us for many years, and in that time, she has become the silent power behind our success. As a key part of the audit department, her dedication, precision, and calm approach make her an invaluable team member. She works tirelessly, always delivering excellence, and leading by example with her quiet strength and professionalism. Chara, on your special day, we want to thank you for everything you do. Your hard work, reliability, and kindness don’t go unnoticed, and we are truly grateful to have you on our team. Wishing you a wonderful year ahead, filled with happiness and success! Happy Birthday, Chara!

Today, we’re celebrating a very special member of our team, Menicos Constantinou! Menicos is one of the newest additions to our accounting department, but he has already made a big impact. With his positive energy, kindness, and dedication to his work, he has quickly become a valued part of our team. His professionalism, attention to detail, and willingness to help make him not just a great colleague but also a fantastic person to work with. On your special day, Menicos, we want to wish you happiness, success, and a year filled with great moments. We’re lucky to have you on the team, and we look forward to celebrating many more birthdays with you! Happy Birthday, Menicos!

Our New Year’s celebration was more than just a party, it was a night filled with energy, laughter, and the unbeatable spirit of our team! With live music setting the rhythm, we danced, we sang, and we truly enjoyed the moment. The joy on everyone’s faces, the shared laughter, and the countless memories made this night special. It was a reminder that our strength isn’t just in how we work together, but in how we celebrate together. Starting the year this way, surrounded by colleagues who feel like family, sets the tone for everything ahead. Here’s to another year of success, teamwork, and unforgettable experiences!

Further to the New Decree according to which the Employer is obligated to register the Essential Terms of Employment of all their Employees in the «ERGANI» Information System during the period from January 2, 2025, to February 28, 2025, we attach the Instructions for the Use of the «ERGANI» System & the Procedure for Recording the Basic Terms of Employment. For further information you can contact the Department of Labour Relations of the Ministry of Labour and Social Insurance at telephone contact 22803100 or by e-mail on the «ERGANI» System. The Guide has been published only in Greek so for any further information you might need, you can contact us on service@pconstantinou.com  or at telephone contact 25361000 .

On 06/12/2024 the Department of the Registrar of Companies and Intellectual Property published the Prevention and Suppression of Money Laundering Activities (Amendment) (No.2) Law. As per the amendments an extension has been granted for the 2023 submission of the beneficial ownership data until 31/012015 and for the 2024 submissions an extension has been granted up to 31/03/2025. Furthermore, financial charges will be imposed only on the company or other legal entity that refuses or omits or neglects to fulfill the beneficial ownership reporting obligations and no financial burdens will be imposed on every director and secretary and the charges have been revised to: €100 will be imposed on the first day of the infringement A further charge of €50 for each day of continuation of the violation, with a maximum total charge of five thousand €5,000 per company or other legal entity. Lastly, all charges and penalties imposed from 01/04/2024 have been cancelled and any penalties already paid will be refunded as follows: For online payments made through JCC, the amount will be refunded directly to the card with which the payment was made, without any further action on the part of the affected person. For payments made to the Cashier of the Department of the Registrar of Companies and Intellectual Property, the amount will be refunded to the applicant's Bank Account upon presentation to the cashier of the Department of form KE1, accompanied by the authorization form for payments by FIMAS and a photocopy of the payment document, as well as the International Bank Account Number (IBAN) to be credited, as described in the Authorisation Form. It is reminded that the Beneficial Ownership Register is electronic and can only be updated at the following link: https://ubo.meci.gov.cy

We inform you that the Minister of Labour & Social Insurance has issued a new Decree published in the Official Gazette of the Republic on December 20, 2024. According to Article 11 of the Transparent and Predictable Working Terms Act, every employer is obligated to register the Essential Terms of Employment of all their employees in the «ERGANI» Information System during the period from January 2, 2025, to February 28, 2025. The Essential Terms of Employment to be registered in the «ERGANI» Electronic Information System, as outlined in the Decree, include the following: 1. Employer details 2. For retail businesses, the type of business 3. Employee details 4. Employer's registered office 5. Place of work as per the employment contract and actual workplace at the time of registration 6. Job description and employee's specialization 7. Employment start date 8. Employment end date for fixed-term contracts 9. For temporary employment businesses, the details of the indirect employer 10. Terms and duration of the probationary period 11. Duration of annual leave and method of allocation 12. Salary/Wages, frequency of payment (daily/weekly/monthly/hourly) 13. Working hours of a standard workday/week 14. Indication if the employee's schedule is unpredictable 15. Other benefits/allowances, commissions, cost-of-living allowance, etc. Note: This new Decree requires the creation of an employer account in the «ERGANI» Information System, if not already established, as well as the creation of an «Employment Contract» for all employees without exception. For any further information you might need, you can contact us on service@pconstantinou.com .

The holiday spirit was alive and thriving at P. Constantinou & Co last Friday as we gathered for a day filled with joy, surprises, and heartfelt connections. It was a moment where the true essence of the season came to life—giving, sharing, and celebrating as a team. As part of the festive tradition, the management team took the opportunity to present each member of the team with their Christmas gifts. These gifts, thoughtfully chosen, symbolized appreciation and gratitude for everyone’s hard work and dedication throughout the year. The room was filled with smiles and excitement as each person unwrapped their present, reminding us all of the joy that comes from thoughtful gestures. Adding to the festivities was the much-anticipated Secret Santa exchange. The air was buzzing with curiosity and laughter as team members exchanged their mystery gifts. Each present, wrapped with care, carried a story—from inside jokes to little touches of personality that showcased how well we’ve come to know each other. It was a beautiful reflection of the bonds we’ve built, not just as colleagues but as a family. The experience was truly unforgettable. The room echoed with laughter, joy, and a sense of togetherness that will stay with us for years to come. These moments reminded us of the importance of celebrating the journey we’ve shared and looking forward to the milestones yet to come. As we close another successful year, we carry forward the memories of this special day, a reminder of the strength, unity, and warmth that define P. Constantinou & Co. Here's to more celebrations, more achievements, and more moments that bring us closer as a team. Wishing everyone a joyful holiday season and a prosperous New Year!

Today, we had the pleasure of celebrating the birthday of someone truly special—Astero, the heart and soul of our team. Astero is so much more than a key member of our team. She’s the spark of positivity, the one who lights up the office with her contagious smile and uplifting energy. She’s the driving force behind our team bonding activities, always finding ways to bring us closer together and reminding us of the importance of connection and care. Her unwavering positivity, kindness, and ability to spread joy make her a source of inspiration to all of us. Astero, thank you for being the glue that binds our team and for sharing your love and care so generously. We wish you a birthday as amazing as you are and a year filled with happiness, health, and endless opportunities. Here’s to many more joyful celebrations together! Happy Birthday, Astero!