Directive on Administrative Cooperation (DAC)

The Directive (EU) 2018/822 represents the 6th modification of DAC, and for this purpose it is called DAC6. DAC6 reflects new initiatives in the field of tax transparency at the level of the EU, through the introduction of an early warning mechanism for tax avoidance schemes. Please find here a presentation about the Directive on…

January 7, 2022
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Claim for Allowances 2022 (TD 59)

Please find the “INCOME TAX CLAIM FOR ALLOWANCES 2022” form in English and in Greek that needs to be completed and signed by each employee and return to us by 11th January 2022. This form is important so that your employer properly calculates your monthly deductions (income tax (PAYE), social insurance, GHS, etc.) for the rest of the year. The essence is to inform your employer…

January 7, 2022
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Temporary Tax 2021 – 2nd Installment

Companies that expect to have taxable income for the year 2021 must pay the second installment of the temporary tax. The temporary tax is paid only using the JCCSMART website. The tax is payable in two equal installments – 1st was due 31 July 2021 and the 2nd by 31 December of 2021. The payments are made…

December 8, 2021
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Deadline for submission of personal income tax returns and payment (25/11/2021)

The deadline for electronic submission of 2020 personal Income Tax Return (Form T.D.1) for employees and pensioners, whose total gross annual income exceeds €19.500 as well as for self-employed (Form T.D.1 self-employed), with turnover below EUR 70,000 and who do not have the obligation to submit audited accounts, is 30 November 2021. We are at…

November 25, 2021
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Beneficial Ownership Register (15/11/2021)

According to the Prevention and Suppression of Money Laundering Activities Laws of 2007-2021, companies and any other legal entities incorporated in the Republic of Cyprus must obtain accurate and current information on their beneficial ownership. All the required information about the beneficial owner(s)  who own or control the legal entities must be submitted electronically by the directors (or…

November 15, 2021
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ERGANI Information System (07/09/2021)

The Ministry of Labor, Welfare, and Social Insurance announced that from the 13th of September 2021 the “ERGANI “Information System will enter into force. Employers will now be able to register as employers and also to register their employees online. The application for registration of an employer is submitted no later than one (1) day…

September 7, 2021
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Temporary Tax for 2021 (07/07/2021)

Companies that expect to have taxable income for the year 2021 must pay the first instalment of the temporary tax. The tax is payable in two equal installments – 1st by 31 July 2021 and the 2nd by 31 December of 2021. The payments are made until 31 August 2021 and 31 January 2022 respectively. Late filing of…

July 7, 2021
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Extension of the Annual Levy Deadline for 2021 (07/07/2021)

The deadline for the payment of the Annual Levy for 2021 has been extended from 30 June 2021 to 31 December 2021 without any penalty charge of 10% or 30%. We are at your disposal for any further information you may need.

July 7, 2021
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Businesses obliged by decree to accept credit cards (16/06/2021)

The cabinet on Wednesday approved a finance ministry decree obliging service and retail businesses to accept plastic money. According to a ministry statement, businesses must comply within three months from the day the decree is published. Businesses that open in the last 30 days of the three-month deadline must comply inside four months from publication…

June 16, 2021
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Annual Levy 2021 (22/03/2021)

Cyprus registered companies must pay an annual company fee at the Department of the Registrar of Companies every year. For the year 2021, the fee is payable the latest by 30 June 2021. The annual company fee, as in previous years, is set at €350 per company. Non-payment of the annual government levy, will result in penalties…

March 22, 2021
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Covid-19 - Business support, advice, guidance and working arrangements We are posting regular updates to help our clients stay informed - Read about our Covid-19 business support and working arrangements plan. We are posting regular updates to help our clients stay informed.