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Annual Levy
To comply with statutory requirements, every Cyprus company must pay an annual government fee of €350 by the 30th of June of each year of its operation. You may proceed with the payment of your company's annual fee via the website of JCCSMART....
Παράταση Δήλωσης εισοδήματος ατόμου
Το Τμήμα Φορολογίας ενημερώνει ότι, με βάση Διάταγμα του Υπουργικού Συμβουλίου ημερομηνίας 9 Ιουνίου 2023 (ΚΔΠ 183/2023), η υποβολή της Δήλωσης Εισοδήματος Ατόμου για το έτος 2022 παρατείνεται μέχρι και τις 2 Οκτωβρίου 2023. H Δήλωση Εισοδήματος Ατόμου 2022 δεν έχει...
2nd ICPAC Mediterranean Finance Summit 2023
A Global Research Study recently conducted by ACCA identified the most pressing challenges faced by Finance Leaders today: namely 1. Inflation crisis fuelling wage pressures2. Hybrid working practices still evolving3. Mentalhealth challenges4. Talent retention5. Speed...
Global Entrepreneurship Monitor Cyprus Report 2021/22
Τhe Centre for Entrepreneurship (C4E) of the University of Cyprus has recently compiled the National Report for Entrepreneurship, acting as the National Coordinator and Cyprus’ representative in the Global Entrepreneurship Monitor (GEM). The GLOBAL ENTREPRENEURSHIP...
Extension to the submission of VAT returns
The Department of Taxation has announced that from March 27, 2023 all tax obligations for VAT purposes will be processed exclusively through Tax For All – TFA. For the convenience of users at this transitional stage, the Department of Taxation announces an extension...
Extension of the time limit to submit an objection and to impose the 5% additional tax by two months
The Department of Taxation has announced that, in the context of the effort made for the rapid clearance of Individual Income Tax Returns, there is a delay in sending and receiving the Notice of Tax Imposition/Contributions (T.D.8 form). As a result of the above...
Additional tax exemption in the form of a capital deduction on specific capital expenditures with the aim of encouraging energy upgrades and saving business energy.
The Council of Ministers, during its session on February 22, 2023, approved a bill amending the Income Tax Law to grant an additional tax exemption in the form of a capital deduction on specific capital expenditures with the aim of encouraging energy upgrades and...
Tax Calendar of 2023
Ithaca Services has compiled a Tax Calendar for 2023 which includes a summary of statutory tax obligations for companies and individuals for the current year. 31 January Submission of Deemed Dividend Distribution Declaration form (T.D. 623) for the year ended 31...
Temporary Tax Assessment 2022
In accordance with the Assessment and Collection of Taxes Law, all companies are required to notify the Commissioner of Taxation of their estimated chargeable income, and consequently their resulting temporary tax for the year 2022, by 31 July 2022.Based on the...
Operating a Business in Cyprus through a registered company versus as Self-Employed
This article is especially useful to young creatives, start-uppers and persons who have started a business which is now ready to be taken to the next level. The two most common ways to operate a business in Cyprus are as a self-employed (also called freelancer...
Extension for the payment by the companies of the Annual Levy for the year 2022
The Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Commerce and Industry announced that according to the recent amendment to the Companies Law, introduced via Law L.96(I)/2022, the final date for the payment of the Annual...
Simplified process of auditing the financial statements for small and medium-sized companies
In an effort to simplify the auditing process of the financial statements of small and medium sized companies, the House of Representatives passed amending Law No.2 of 2022 to the Cyprus Companies Law, on 9 June 2022. Companies with net turnover and total value of...
Accessing information from the Registry of Beneficial Owners of companies and other legal entities
The Department of the Registrar of Companies and Intellectual Property of the Ministry of Energy, Commerce and Industry, announced that as of 1st June 2022, the general public, as well as the obliged entities, will be able to receive information from the Registry of...
UBO Register Of Companies And Other Legal Entities
Cyprus has transposed the 4th European Directive (EU 2015/849) of the European Parliament (4th AML Directive) into domestic law and triggered the implementation of the Ultimate Beneficial Owner (UBO) Register of companies and other legal entities in Cyprus. Following...