January 7, 2022
A & C CHRISTOFI LTD
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 about any information that they are not already aware of. So, make sure to state in the form (amongst other):
- Claiming the 20% / 50% exemption (put date of arriving in Cyprus for the 1st time)
- For the Personal Insurance Plans please split the amounts for
- own personal life insurances plans,
- Private Medical Insurance Plans
- Any private pension fund contributions other than Ancoria Pension
- expect to earn income other than just salary income (i.e. rental income or business income)
- Donations to registered charities
- Subscriptions to unions / other professional bodies, etc.
Practical info below on how to fill-in your Form TD59 for tax year 2022:
- The 20% / 50% income exemption –> complete part B2
- Personal life insurance payments –> complete part B9
- Personal health insurance payments –> complete part B7
- Donations to Cyprus charities –> complete part B5
- Professional subscription payments –> complete part B1
- Provident fund payments, or any other tax-deductible expenses (e.g. Social Insurance payments, Healthcare payments), there should be no need to state in the form since your payroll team should already know the amounts.
Please make sure you properly fill-in the relevant parts of the form, sign it and send it to the email firstname.lastname@example.org
On the subject of the email please indicate the company name you are employed by.