Posts Tagged ‘Income Tax Exemptions’

Extension of Income Tax 50% Exemption Approved by Council of Ministers

The Council of Ministers approved on 10 May 2022 the significant improvement of an incentive aimed at attracting foreign companies and highly skilled staff to Cyprus.

Extension of Deadline for Submission of 2020 Tax Returns

With a decision of the Cyprus Parliament on 24 March 2022, the deadline for submitting the tax return for 2020 for companies (TD4) and individuals with...

Incentives for Investing in Innovative SMEs – Extension of Application

The tax incentives for investing in innovative enterprises, which were introduced in 2017, were extended until 30 June 2024 by a decision of the...

Exemption from Submission of Personal Income Tax Return for 2021

Through a decree by the Council of Ministers of the Republic of Cyprus issued on 4 February 2022, individuals whose gross annual income is below...

Reference Interest Rates for 2022 for Notional Interest Deduction on New Equity

The Cyprus Tax Department published on 3 February 2022 the bond yield rates per country as at 31 December 2021 to be considered for the Notional Interest Deduction...

Earnings Threshold for Employment Contribution Purposes for 2022

The earnings cap for Social Insurance purposes for 2022 has increased to €58,080 per annum (2021: €57,408 per annum).

Deemed Dividend Distribution

The Deemed Distribution (DD) provisions apply where a Cyprus tax resident company has not distributed as a dividend at least 70% of its after-tax profits...

No Administrative Fines for Submission of Tax Returns until 6 December 2021

The Ministry of Finance of the Republic of Cyprus announced on 1 December 2021 that there will be no imposition of administrative fines for the electronic submission...

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