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Increase in Social Insurance as of January 1st 2024

Increase in Social Insurance The Department of Labour Relations, Social Policy & Human Resources Development of CCCI informs you that as of 1/1/2024, both employers and employees will see an increase in their contributions to the Social Insurance Fund. Specifically, according to the Social Insurance Law, starting from 1/1/2024, both employer and employee contributions to […]

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European Court of Justice rules against general public access to UBO registry

After the debate of whether AML regulations can come in conflict with GDPR regulations for EU citizens, the European Court of Justice issued a judgment dated 22/11/2022 that (quoted from the press release) “…the general public’s access to information on beneficial ownership constitutes a serious interference with the fundamental rights to respect for private life

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Cyprus AIRBNB registration Intellectual Property in Cyprus

Cyprus AIRBNB accommodations: Everyone must register Cyprus: The Deputy Ministry of Tourism announces that all self-catering accommodations (on AIRBNB, BOOKING.COM and other platforms) should be registered in the relevant registry of the Deputy Ministry by 06/02/2023. According to the relevant legislation, in order to be able to advertise and/or rent the self-catering accommodation, applicants must

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Deemed Dividend Distribution for the tax year 2019 to be distributed by December 31st 2021

Deemed Dividend Distribution for the tax year 2019  We would like to remind you of the deemed dividend distribution (DDD) provisions of the Special Contribution for the Defence Law that relate to the tax year 2019. Profits subject to deemed dividend distribution Companies are deemed to have distributed to their resident shareholders 70% of their

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Deemed Dividend Distribution for the tax year 2019 taxable by December 2021

Deemed Dividend Distribution for the tax year 2019  We would like to remind you of the deemed dividend distribution (DDD) provisions of the Special Contribution for the Defence Law that relate to the tax year 2019. Profits subject to deemed dividend distribution Companies are deemed to have distributed to their resident shareholders 70% of their

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Deadline for the electronic submission of the new Tax Forms for Special Defence Contribution (“SDC”) and General Healthcare System (“GHS”) contribution withheld on interest and dividend payments

Deadline for the electronic submission of the new Tax Forms for Special Defence Contribution (“SDC”) and General Healthcare System (“GHS”) contribution withheld on interest and dividend payments Based on the announcement issued by the Tax Department of Cyprus on 4 May 2021 in relation to tax forms T.D.602 and T.D.603, the electronic submission of the

Deadline for the electronic submission of the new Tax Forms for Special Defence Contribution (“SDC”) and General Healthcare System (“GHS”) contribution withheld on interest and dividend payments Read More »

Επιβαρύνσεις απο το έτος 2019 δια επιχειρήσεις και εργαζόμενους:

Επιβαρύνσεις απο το έτος 2019 δια επιχειρήσεις και εργαζόμενους: 1. Με βάση το Νόμο περί Κοινωνικών Ασφαλίσεων, από 1/1/2019 αυξάνονται οι εισφορές τόσο για τους εργοδότες όσο και για τους εργοδοτούμενους τους κατά 0.5% επί του ολικού μισθού. Το ποσοστό συνεισφοράς του εργοδότη και το ποσοστό αποκοπής του μισθωτού θα ανέλθει στο 8.30% έκαστος. 2.

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Electronic payment of taxes

As part of the Government’s effort to improve the electronic services offered to taxpayers, the Tax Department has recently announced that as from the 1st of June 2018, the settlement of the following taxes can be effected only electronically through the JCCsmart website. Tax Code Description 0100 Income tax deducted from emoluments (PAYE) 0114 Reduction

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