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Posts Tagged ‘Employment’

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.

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...

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).

Protocol to Double Tax Treaty Between Cyprus and Switzerland Entered in to Force

The Protocol, which entered in to force on 3 November 2021, introduces, among others, minimum standards of the OECD Base Erosion and Profit Shifting (BEPS) actions, including...

New Package of Incentives for Establishing or Expanding Presence in Cyprus

On 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to establish or expand presence in Cyprus. The Plan is in line with...

Changes to Employment and Social Insurance Regulations

The Cyprus Ministry of Labour, Welfare and Social Insurance has recently announced that on 13 September 2021, the Social Insurance...

Setting up in Cyprus – Company, Officers, Premises

We will consider whether to form a company in Cyprus or redomicile a foreign company to the country. We will also contemplate alternatives concerning premises, as well as for sourcing and appointing officers for the company.

Income Tax Return for 2020: Further Extension of Submission Deadline

The Cyprus Tax Department has recently announced that the deadline for submission of the Income Tax Return for 2020 will be extended further from...

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