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Increase of Insurable amount for Social insurance contributions for the year 2023

Increase of Insurable amount for Social insurance contributions for the year 2023

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...
Reminder: Deemed dividend distribution due end of 2022

Reminder: Deemed dividend distribution due end of 2022

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...
Deadline for provisional tax and second tax instalment 2022

Deadline for provisional tax and second tax instalment 2022

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...
Exemption for submission of Personal tax return for tax year 2022

Exemption for submission of Personal tax return for tax year 2022

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,...
New income tax exemptions to attract foreign talent

New income tax exemptions to attract foreign talent

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...
Extension Deadline for the Submission of Income tax for the tax year ended 31 December 2021

Extension Deadline for the Submission of Income tax for the tax year ended 31 December 2021

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...
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Recent Posts

  • Increase of Insurable amount for Social insurance contributions for the year 2023
  • Reminder: Deemed dividend distribution due end of 2022
  • Deadline for provisional tax and second tax instalment 2022
  • Decision of the Court of Justice of the European Union regarding public access to the UBO Registry of legal entities
  • Exemption for submission of Personal tax return for tax year 2022

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Sagehill Partners refers to NSP Sagehill Partners Limited, a Cyprus company limited by shares and any of its group of companies.

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