by Marios Panayides | Jan 7, 2023 | Business, Social Insurance
For 2023 the insurable amount applicable for social insurance contributions has increased to Euro 60.060 per annum from Euro 58.080 per annum, Euro 5.005 per month from Euro 4.840 per month for monthly paid employees and Euro 1.155 per week from Euro 1.117 per week...
by Stelios Spiliotis | Dec 16, 2022 | Tax
This is a reminder of the approaching deadline for the Special Defence Contributions (SDC) and General Health System (GHS) contributions on Deemed Dividend Distributions (DDD) for the 2020 tax year that need to be settled by 31 January 2023. Scope of the...
by Stelios Spiliotis | Dec 13, 2022 | Income Tax, Tax
The deadline for the submission of a revised provisional tax calculation for 2022 (if needed) and the payment for the second provisional tax instalment for 2022 is at 31 December 2022. Taxpayers are reminded that the 2022 temporary tax assessment may be revised...
by Marios Panayides | Sep 30, 2022 | Income Tax, Tax
On 23 September 2022, the Council of Ministers issued a Decree in official Gazette which exempts individuals with gross annual income below 19,500 Euro from the obligation to submit a personal tax return (TD1) for the tax year 2022. As a reminder, back in August 2020,...
by Demetris Nicolaides | Aug 2, 2022 | Income Tax, Tax
Cyprus has introduced new rules for income tax exemptions on employment income to attract foreign talent. Income Tax Law (Amendment) (No. 6) of 2022 was published in the official Gazette on 26 July 2022 amending Articles 8 par 21 (the “Specific Exemption”) and Article...
by Christos Stylianou | Jul 28, 2022 | Income Tax, Tax
The Tax Department of Cyprus announces that in accordance with the decision of the Members of Parliament, which will be published shortly, the deadline for the submission of the tax declaration for Physical Persons (Employee, Pensioner and Self Employed without...
