July 2022: Extension of Submission of Income tax for 2021
Income tax forms must be filed by employees, pensioners and self-employed individuals with gross income exceeding €19,500. An extension...
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Start of submission of Income Tax Return declaration for 2022
Cyprus July 2023 – The Tax Department announced that the submission of the Individual Income Return for 2022 through the TaxisNet system...
Cyprus: 2022 transfer pricing changes
After recommendations by the OECD, the Cyprus parliament approved certain documentation requirements on transfer pricing (June 30th,...
Cyprus companies: 2022 Temporary tax first instalment
Companies that expect to have taxable income for the year 2022 must pay the first instalment of the temporary (provisional) tax by 31...
2022 – Deadline for settlement of taxes through self-assessment
The 30th of June 2022 is set as the final date to settle taxes through self-assessment for Special Contribution for Defence on rents,...
Cyprus Special Defence Contribution law amended
Cyprus, May 2022. the Cyprus Parliament approved law amendments in the Special Defence Contribution law (SDC), targeting to widen the...
Deadline: 2022 Cyprus companies annual Levy Tax
Latest update 01/07/2022 The Cyprus Parliament (30/06/2022) approved an extension for the payment of the annual levy until 31/12/2022. We...
Campaign against undeclared work and compliance with labor legislation
The Ministry of Labor, Welfare and Social Insurance (through the Inspection Service), will carry out in June 2022, inspections on a...
Obligation to Accept Payments by Card – New economic activities
Cyprus – The Tax Department issued a reminder that, under Article 30A, businesses listed in its list on the Assessment and Collection of...
Clarifications regarding sanctions against Russia
In a statement, the Cyprus Ministry of Finance proceeded recently with clarifications on the 5th package of EU restrictive measures...
Cyprus: Deadline extension for Submission of 2020 direct tax declarations
The Cyprus House of Representatives approved recently (24/3/2022) an extension on the deadline for the submission of the 2020 corporate...
Updated 3/2022: Moving, living & establishing a company in Cyprus | Ukraine
Updated 3/2022: After the recent unfortunate developments in Ukraine, there is massive interest from Ukraine citizens and companies to...
Types of Cyprus entities – Obligations, Taxation, Liabilities
Incorporating a business in Cyprus offers various advantages to their owners and shareholders. But aside from the low taxation, excellent...
Cyprus Invites Digital Nomads
The “Cyprus Digital Nomad Visa” program allows citizens from non-EU and non-EEA countries, who can perform their work remotely, to...
Exemption from obligation to submit Income Tax Return for Individuals
Cyprus – The Council of Ministers issued a Decree (February 2022) regarding income tax returns for 2021. The decree states that all...
Campaign for labor laws compliance and undeclared employment
The Inspection Service of the Ministry of Labor, Welfare and Social Insurance, will carry out, in February 2022, targeted inspections on...
Update: Payment of VAT in 3 equal installments
Cyprus – The Tax Department informs (10/2/2022) that it is possible for Taxable Persons to pay the VAT for the period ending on...
Cyprus – Transfer Pricing Frequently Asked Questions (FAQ)
A list of FAQs about Transfer Pricing as published by the Cyprus Tax Department, aiming to clarify certain issues enquired by local Tax...
New measures to support hotel employees and other professionals
Cyprus – A proposal was approved by the Council of Ministers for additional measures to support workers and professionals that continue...
14% VAT refund on Land transferred from Parents
The Cyprus Tax Department informs that, by decision of the Council of Ministers (12/01/2022), there is now the possibility of requesting...
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