Jul 3 23

Change in the application of the reduced VAT rate of 5% for the acquisition or construction of primary and permanent residences in Cyprus

On 16 June a VAT Amendment Law was published in the official gazette of the Republic of Cyprus, which introduces changes to the conditions for the application of the reduced VAT rate of 5% for the acquisition or construction of a residence. The amending law states that the 5% VAT rate will apply only to the first 130 square meters of the buildab...

Dec 19 22


31 December 2022• Submission of a revised provisional tax return (if applicable) and payment of the 2nd instalment of provision tax• Payment of Special Defence Contribution (SDC) and General Health System Contributions (GHS) on rents, dividends and interest received from abroad for the period July – December 2022• Payment of annual compa...

Mar 19 21

Register of beneficial owners

The Registrar of Companies and Official Recipient Department announced the launch of electronic service where the details of the Real Beneficiaries of Companies and other legal entities will be submitted. The deadline for companies to submit this information is 6 months. Companies registered on 16 March 2021 onwards are granted a time limit of 30 d...

Feb 9 19

Increase of Social Insurance Contributions and commencement of contributions for GeSy for 2019

Increase of Social Insurance contributions As per the Social Insurance Law, as of 1/1/2019, the contributions for Social Insurance will increase by 0.5% for both the employers and employees, i.e. from 7.8% to 8.3%, on the insurable remuneration of the employees. Commencement of contributions for GeSy As per the General Health System Law, the con...