Annual Levy for Cyprus Companies 2020 (12/10/2020)

As statutorily required, Cyprus registered companies must pay an annual company fee at the Department of the Registrar of Companies (the “RoC”) every year.  For the year 2020, the fee is payable the latest by 31 December 2020. The annual company fee, as in previous years, is set at €350/company. This year, the payment can only…

October 12, 2020
No Comments
TAX Portal (03/07/2020)

The Tax Department has launched a new e-service with the name Tax Portal, where citizens and companies/businesses will be able to get information directly or through their representatives about their payments and any debts to the Department. Tax Portal will be a central point and citizens will have the opportunity to submit self assessments, temporary assessments and withholding from taxes and…

July 3, 2020
No Comments
Special Support Schemes for Businesses and Employees (02/07/2020)

The Labour Ministry has launched the online application process for the 4th period of its support schemes addressed to businesses and the unemployed that are financially hit by the Coronavirus outbreak. The five schemes cover the period from June 13 to June 30, 2020, and can be found on the website www.coronavirus.mlsi.gov.cy (in Greek). The five…

July 2, 2020
No Comments
VAT rate reduced to 5% (01/07/2020)

The Cyprus Government has temporarily reduced the VAT rate that applies to the tourism, restaurant and transport industries from 9% to 5%. The Council of Ministers Under has decided on 23 June 2020, under the articles 18 and 18A of the Cyprus VAT Laws issued decree ΚΔΠ 268/2020, that for the period between 1 July 2020…

July 1, 2020
No Comments
TAX Portal (30/06/2020)

The Tax Department has launched a new e-service with the name Tax Portal, where citizens and companies/businesses will be able to get information directly or through their representatives about their payments and any debts to the Department. In addition, they will have the opportunity to submit self assessments, temporary assessments and withholding from taxes and make…

June 30, 2020
No Comments
General Healthcare System (GHS) Contribution Rates (16/06/2020)

The contribution rates for the General Healthcare System (GHS, commonly known as Gesy) have changed as from 1st of June 2020 as per below table: For the Income Earners, the new contribution rate 2,65% will come into effect as from 01st of July 2020. We always remain available to our clients and we are doing our…

June 16, 2020
No Comments
New Laws following the COVID-19 outbreak (30/03/2020)

Following our latest newsletter sent on 19th March 2020, the Cyprus Parliament has voted the relevant TAX and VAT laws on 27th March 2020. General Health System (GHS) Law Decreased Contributions for Gesy for 3 months, April – June 2020, as per below table: VAT Law Deferral of the VAT payable amounts for the VAT quarters ending: 29…

March 30, 2020
No Comments
General Health System (GHS) Contributions will increase as from 01 March 2020 (19/03/2020)

The General Health System (GHS commonly known as Gesy) has come into effect as of the 1st of March 2019. The GHS contributions are as per below: 1. employer’s contribution is 1,85% 2. employee’s contribution is 1,70% on the employee’s gross earnings 3. self-employed individuals’ contribution is 2,55% on their gross earnings Furthermore, as from…

March 19, 2020
No Comments
IMPORTANT ANNOUNCEMENT (19/03/2020)

The Council of Ministers has decided on the 18th March 2020 the following regarding the coronavirus: The VAT due submission date which was supposed to be submitted on the 10th of April is extended until 30 April 2020 assuming the businesses’ turnover over the last 12 months was less than €1 million. Saying that, the…

March 19, 2020
No Comments
COVID-19: Cyprus Economic Measures (18/03/2020)

The World Health Organization (WHO) has declared the Covid-19 outbreak to be a pandemic and since then our daily lives have changed. In Cyprus, the Government has announced several measures in order to support the economy of the country. These measures include: TAX Extension of the submission deadline of income tax returns for two months i.e….

March 18, 2020
No Comments
  • 1
  • 2

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.