Author: Eleni Pezirgiannidou

Extended deadline for the submission of 2019 personal income tax returns and for the payment of Tax

  In accordance with a Decree issued on 5 June 2020, the following deadlines are extended to 30 October 2020. Electronic submission of the 2019 personal income tax return by employees and pensioners (TD1- Employee) whose gross income exceeds  €19.500, and for the payment of their final tax due Electronic submission of the 2019 personal […]

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Amendments to the Notional Interest Deduction (NID) provisions of the Income Tax Law

Tax Updates Amendments to the Notional Interest Deduction (NID) provisions of the Income Tax Law On 16 June 2020, an amending Income Tax Law was published in the Official Gazette in respect to the Notional Interest Deduction (NID). The revised NID provisions enhance the tax benefits for Cyprus companies who choose to finance their operations […]

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Social Insurance and National Health Insurance System Alert

Please see below several changes in respect to the Social Insurance contributions and the National Health Insurance System (NHIS) which are effective in 2020.   Social Insurance Rates 2020 The maximum amount of insurable earnings has increased from previous year to €1.055 per week, €4.572 per month and €54.864 per annum. Contributions to the Social […]

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Tax Updates

8-03-2017 Recently, the Department of Taxation (Cyprus) (DOT) has announced its intention to terminate the application of the pre-agreed minimum profit margins of 0.125% – 0.35% on qualifying intra-group back to back financing agreements effective from 1 July 2017. Accordingly to the above date onwards, the above profit margins on intra-group back to back loan […]

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