On the 15th of November 2024 the House of Representatives, in an effort to combat undeclared employment, passed and announced stricter penalties on the employers who violate the provisions of Social Insurance Law of 2024. In particular, in case of detection of the violation, by an inspector, a fine of €1.000 is imposed per employee for the month of the infringement.  The existing legislation for an additional fine of five hundred euros (€500) for each previous calendar month or part thereof, remains unchanged. If a repeated violation is detected by the same employe within two years of the initial violation, the fine shall be as follows: 1. First violation €1.000 2. Second violation €2.000 3. Third (and any consequent from this point on) violation €3.000 It is noted that the provisions of the legislation regarding the period of employment (6 months plus the current month the violation was found) and emoluments (1.5 times the basic insurable earnings in force on the day the violation is detected) still apply.   In case it is proven that the employment period and emoluments are higher than the aforementioned provisions then the actual data are taken into consideration. In case the employer can prove that the employee was employed for lesser period or at a lower salary then the relevant fines will apply on the actual data. The new Law comes into force immediately and is intended to ensure fair and legal employment.

Another special day, another wonderful celebration at P. Constantinou & Co today, it’s all about Nicoletta! Nicoletta’s dedication, kindness, and positive energy are truly appreciated by everyone in the team, and we were thrilled to celebrate her birthday in style. With laughter, warm wishes, and, of course, a delicious cake, we came together to make Nicoletta’s day as special as she makes our workplace. Her contributions to the team are invaluable, and we’re so lucky to have her with us. Nicoletta, we wish you a year filled with joy, success, and unforgettable moments. Here’s to many more birthdays celebrated together!

Today was a day of gratitude and celebration at P. Constantinou & Co as we honored our leader, Panayiotis Constantinou, on his birthday! Panayiotis isn’t just a boss – he’s a true mentor, the steady guide behind our team, and a father figure to us all. He consistently goes above and beyond to support each of us, pushing us to reach our highest potential while creating a work environment rooted in respect and care. His leadership style is one that values personal growth, teamwork, and the importance of treating each other like family. We are incredibly proud of Panayiotis, who inspires us daily to strive for excellence and make this company an amazing team. Today, we celebrated not only his birthday but also the meaningful impact he has on our lives and careers. Happy Birthday, Panayiotis! Thank you for everything you do – here’s to many more years of growth, teamwork, and success together!

2024 Temporary tax second instalment and Stock take reminder Temporary Tax 2024 Companies that expect to have taxable income for the year 2024 must pay the second instalment of the temporary tax by the 31st of December 2024. The tax, is calculated at 12.5% on the taxable income and is payable in two equal instalments – the first was by 31st of July and now the second by 31st of December of 2024. Late filing of the return and payment of tax will attract interest and penalties. The aim of payment of provisional tax is to avoid the 10% “additional tax”. To achieve this your estimated taxable income must be at least 75% of the final taxable income as it will be determined by audited financial statements. Please note that you can revise this temporary assessment before the end of each year. If you expect that your company will have taxable income for the year 2024, please get in touch with Froso Chrysanthou using the email f.chrysanthou@pconstantinou.com no later than the 10th of December to arrange for the payment of the second instalment. Please do not hesitate to contact us should you require any further assistance about the 2024 Temporary tax second instalment. Stock Take Reminder Please be reminded that all Cyprus companies that have inventory (products) must perform an annual stock take at or around the year-end. The Tax Department has the right to request the results of the stock take if this is considered necessary. If your company requires assistance and guidance on the correct procedure for a stock take, please do not hesitate to contact us.

These last few weeks have been packed with celebrations, and today, we had the pleasure of celebrating Andri’s birthday! At P. Constantinou & Co, we love taking the time to recognize each team member’s special day, and Andri’s was no exception. With lots of laughter, delicious treats, and warm wishes, we came together to celebrate Andri and show her how much she means to our team. Her work and positive attitude make every day better, and we are truly grateful to have her with us. Happy Birthday, Andri! May this year bring you endless joy, success, and memorable moments. Here’s to more years of celebrating together!

What better way to close out the week at P. Constantinou & Co than by celebrating Yiota’s birthday! Yiota’s dedication and positive energy are a constant boost for all of us, and today was our chance to show her just how much she means to the team. With laughter, treats, and heartfelt wishes, we gathered to celebrate Yiota and all the wonderful qualities she brings to the company. Yiota, we wish you a fantastic year filled with happiness, success, and everything you’ve dreamed of! Here’s to more milestones and moments shared together as a team!

October is truly a month of celebrations at P. Constantinou & Co, and today we’re thrilled to celebrate Elena’s birthday! Elena brings her unique energy, positivity, and passion to our team every day, and we’re so lucky to have her. Today was all about celebrating her, with smiles, cake, and lots of warm wishes. Elena, we hope this year brings you endless happiness, success, and memorable moments. Thank you for everything you do – we couldn’t imagine the team without you! Here’s to many more birthdays and milestones together!

Today, we’re celebrating a special milestone – Froso’s 7-year anniversary with us at P. Constantinou & Co! Over the years, Froso has been a constant source of support and positivity, always going above and beyond with her dedication and care for everyone around her. She’s more than just a colleague – she’s like a sister to all of us. Her kindness, hard work, and unwavering commitment have touched us all, making our workplace a brighter, more welcoming environment every day. Froso, we are so lucky to have you in our team! Thank you for everything you do and for always being there with a smile. Here's to many more years of friendship and success together!

Today is a special day for all of us at P. Constantinou & Co as we celebrate Skevi’s birthday! We are so grateful to have her in our team, as her dedication and warmth truly make a difference in everything we do. Skevi, we wish you a very happy birthday filled with joy, love, and success. May this year bring you wonderful moments with your family and all the happiness you deserve. Thank you for being such an amazing part of our team! Here's to many more celebrations together!

We are creating a new opportunity for an accountant and looking for individuals who are positive and passionate to become part of our team. Requirements: Bachelor's degree in Finance, Accounting or LCCI Higher At least 2 years of recent practical experience in accounting Knowledge of the INTELISOFT program will be considered as an advantage Good knowledge of MS Office (Outlook, Excel, World) Excellent command of the English and Greek languages, both verbal and writing Organizational skills and ability to multitask Team spirit, enthusiastic and positive attitude Professional attitude and appearance Adaptability and ability to learn quickly Responsibilities: Recording transactions in the accounting system Preparation of VAT, VIES and Intrastat returns Perform Bank, Debtors, and Creditors Reconciliations Apply Today Drop us an email with your CV attached, explaining us why you are a good fit for us! We will get back to you the soonest with more information about the process we follow and the booking of your interview.

Dear Clients, We wanted to inform you that our office will be closed for a summer holiday from Monday, August 12th through Friday, August 16th. We will resume normal operations on Monday, August 19th. We hope you have a wonderful holiday as well, filled with relaxation and good times with family and friends. Thank you for your continued trust in us, and we look forward to reconnecting with you upon our return. Warm regards, The Team at P. Constantinou & Co

It is with heavy hearts and profound sadness that we bid farewell to our dear colleague and friend, Maria Prokopi. Her sudden departure has left an irreplaceable void in our lives and within the P. Constantinou & Co. family. Maria was a beacon of spontaneity and kindness, always ready to lend a helping hand. Her ever-present smile and positive energy lit up our office and touched each one of us deeply. She approached life with an unparalleled zest, inspiring us all to live each day to its fullest. In every interaction, Maria embodied warmth and generosity. She was more than just a colleague; she was a cherished friend who brought joy and positivity into our daily routines. Her infectious laughter and unwavering support will forever be etched in our memories. Though she is no longer with us, Maria's spirit will always remain a part of our team. We will carry her legacy of kindness, her habit of spreading joy, and her radiant smile in our hearts. As we move forward, we find comfort in knowing that she will always be remembered for the wonderful person she was. Maria, you will be dearly missed, but never forgotten. Your memory will continue to inspire us every day. Rest in peace, dear friend. With heartfelt condolences, The Team at P. Constantinou & Co.