The Cyprus Tax Department has announced an important update for employers across the country: starting from the 2025 tax year, employers must include the Tax Identification Number (TIN / Αριθμός Φορολογικής Ταυτότητας – ΑΦΤ) of every employee—regardless of income level—when submitting both monthly and annual Employer’s Tax Withholding and Contributions Declaration (Form TD7). What This […]
The deadline for payment of the 1st provisional tax instalment for tax year 2025 is 31 July 2025. Who is required to pay provisional tax? Provisional tax must be paid by the following taxpayers based on their expected annual taxable income for 2025: When is provisional tax payable? How can provisional tax be submitted / […]
The Department of the Registrar of Companies and Intellectual Property (TEEDI), informs that on 06/12/2024, the Prevention and Combating of Money Laundering (Amendment) (No. 2) Law of 2024 was published with number L.141(I)/2024. The main changes are the following: Extension and Withdrawal of Financial Charges The House of Representatives, decided to grant an additional extension of the […]
In December 2024, the Minister of Labour issued a Decree (ΚΔΠ 455/2024) under Section 11(6) of the Transparent and Predictable Employment Terms Law. According to this Decree, all employers are required to submit the essential terms of employment for all their employees. The submission must be completed no later than 28th February 2025 via the Ergani portal. Essential […]
The Tax Department has announced that during the first six months of 2025, the Employers’ Tax Return will transition to the Tax For All (TFA) System. The announcement highlights the changes in the submission process and highlights the requirement for monthly submissions. Things to note: Until the TFA System is operational: Following the launch of TFA […]
On 15 December 2020, an amending law was published in the Gazette with respect to Article 8(21) of the Income Tax Legislation. The purpose of the amendment is to expand the existing framework of attracting employees from abroad The basis of this Article is that the lower of €8.550 and 20% of the remuneration from […]