July 10, 2024
Tax Alert #8-2024: Temporary Tax for 2024 & Employer’s...
1) TEMPORARY TAX FOR 2024 The deadline for the submission of the 1st installment of temporary tax for the year 2024 is 31 July 2024 and the 2nd installment is 31 December 2024. Who is Obliged to Pay Temporary Tax:...
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June 4, 2024
Tax Alert #7-2024: Summary Information Table (SIT) Filing
Summary Information Table (SIT) Filing Taxpayers with transactions involving related parties must complete a SIT detailing these transactions, including legal names, tax residency, Tax Identification Numbers, and transaction values. The deadline for SIT submission for the tax year 2022 has...
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May 8, 2024
TAX ALERT #6-2024: Amendment of the Income Tax Law regarding...
We would like to inform you that on 12 April 2024, an Income Tax Amendment Law was published in the Official Gazette of the Republic. It includes significant amendments to the tax framework for energy saving initiatives, as follows: Allowable...
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March 14, 2024
Tax Alert #5-2024: Deadline extension for submission of tax...
The Tax Department has announced on 23 February 2024, that the deadline for filing the Company Income Tax Return (TD4) for the tax year 2022 has been extended to 30 November 2024, for persons that have related party transactions and...
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February 23, 2024
Tax Alert #4-2024: Change in the payment of SDC and...
The Department of Taxation announced on February 21, 2024, a change in the payment of the SDC and the GHS contribution withheld on rent payable by legal persons. The withheld SDC and GHS contributions will be paid on a six...
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February 14, 2024
Στρατηγική Συνεργασία C.Kounnis & Partners Ltd – THESIS Business Consultants...
H εταιρεία C.Kounnis & Partners Ltd ενισχύει τις φορολογικές τις υπηρεσίες μέσω στρατηγικής συνεργασίας με την διεθνή εταιρεία THESIS Business Consultants S.A. με έδρα την Αθήνα, Ελλάδα. Σκοπός της συνεργασίας είναι η παροχή εξειδικευμένων φορολογικών συμβουλών και ετοιμασίας μελετών σε...
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February 6, 2024
Tax News #3-2024: Higher Thresholds for Transfer Pricing and Local...
Higher Thresholds for Transfer Pricing and Local File Requirements On 1st February 2024 the Tax Department has issued an announcement that in anticipation of legislative amendments on transfer pricing provisions they will apply higher thresholds for Local File requirements, from...
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January 17, 2024
Business Alert #1-2024: New deadline for the Register of Beneficial...
Extension of the deadline for submitting data to the Register of Beneficial Owners until 31 March 2024 The Department of Company Registrar announced an extension of the deadline for submitting information to the beneficial owner register. The new deadline being 31 March...
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January 10, 2024
Tax Alert #2/2024 – Amendment to the Special Defence Contribution...
Amendment to the Special Defence Contribution rate applied on interest income On 20 December 2023, an amending law was published regarding the Special Defence Contribution Law, which determines that the rate of the Special Defence Contribution imposed on interest received...
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Tax Alert #1/2024 – Changes in social insurance contribution rates
Changes in social insurance contribution rates and the maximum earnings threshold on which social insurance contributions are paid (from 01/01/2024) As of 01/01/2024, the social insurance contributions rates change as follows: For employees: 8.8% contribution by the employee and 8.8% contribution...
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November 9, 2023
Payments to Non-Cooperative Jurisdictions? Beware of potential tax implications.
The updateAs of 17 October 2023 the EU List of Non-Cooperative jurisdictions, the so called EU Blacklist, has been updated with 3 countries namely Antigua and Barbuda, Belize and Seychelles. At the same time 3 countries were removed from the...
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July 3, 2023
Change in the application of the reduced VAT rate of...
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...
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December 19, 2022
TAX DIARY – UPCOMING DEADLINES
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...
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March 19, 2021
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...
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February 9, 2019
Increase of Social Insurance Contributions and commencement of contributions for...
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...
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