New minimum wages in the hotel industry – 2023
Cyprus – The Ministry of Labour and Social Insurance announced on August 24, 2023, the revised salary thresholds in a number of...
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2023 Summer Holidays – office dates
Kindly note that our office will be closed from the 14th to the 18th of August 2023 (both days included) due to the summer holidays.
Defence contribution tax withheld on rents in 2 semi-annual payments
The law was amended so that the obligation to pay the Defence contribution tax withheld on rents can be settled in two semi-annual...
Cyprus changes income tax law to charm high-salary earners
Cyprus, July 2023 – The Tax Department recently amended the law for income tax exemptions (a 50% exemption) for non-residents of Cyprus....
Cyprus – Reduction of fine for failure to deliver annual reports
The Cyprus Parliament passed a law (23 June 2022) which reduces from 500 to 150 euros the maximum limit of the total financial burden...
Cyprus – Additional products and services with zero or reduced VAT
The Council of Ministers approved on June 15, 2023, a Decree amending the VAT Legislation in order to change VAT rates on certain...
P. CONSTANTINOU & CO LTD in The Limassol Issue of Gold Magazine
Once again, our Firm was included in the famous “The Limassol Issue” published yearly by Gold Magazine (June 2023), the business magazine...
Cyprus – In which sectors can third-country students be employed?
Cyprus – The Minister of Labour and Social Insurance has amended the Decree concerning the employment of Third Country Nationals who are...
Cyprus approves 5% VAT for small first residence
The Cyprus Parliament passed the law for a reduced 5% VAT rate applied for the first 130 sqm of a residence, either for a house or a...
Employees with children in Cyprus – Additional annual leave days allowed
The Department of Public Administration and Personnel of the Ministry of Finance issued last Thursday a useful guide for the new...
June 2022: Change of office hours
We would like to inform our clients, associates, and partner firms that from the 1st of June 2022 our office hours have changed. From...
2023 Cyprus company annual Levy Tax deadline due end of June
The deadline for the annual levy tax for the year 2023, which is €350 per company, must be paid by 30 June 2023 at latest. If a company...
Cyprus: Foreign investor Immigration Permit criteria changes
May 2023 – The Cyprus Government Council of Ministers amended recently the criteria for obtaining an Immigration Permit in Cyprus as a...
Cyprus Tax Department: Reduced VAT, card payment acceptance, income tax declaration
The Cyprus Tax Department issued 3 different announcements in the past few days. The first concerns the application of a zero VAT rate...
Coronavirus support plans for April 2021
The Cyprus Ministry of Labour published today, 27/4/2021, the support plans for the April 2021 period. The plans concern the period from...
2023: United Kingdom Corporation Tax increase to 25%
The HMRC announced the increase of the amount of Corporation tax companies will have to pay. The increased tax is directly linked to the...
Update: Nigeria and South Africa under Increased Monitoring by FATF
On the 24th of February 2023, FATF issued an updated list of jurisdictions under increased monitoring. The updated list includes Nigeria...
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