Posts Tagged ‘Cyprus Emolument Exemptions’

Deadline for Submission of Employer’s Return

The deadline for submission of the Withholding Taxes and Contributions Return or the year 2023 is on 31 May 2024.The Return, otherwise known as the Employer’s Return, provides...

Employer’s Return – New Submission Procedure

As announced by the Tax Department on 21 February 2024, as part of the gradual implementation of the Tax For All platform, the Withholding Taxes and Contributions Return...

Changes in Employment Contributions for 2024

As from 1 January 2024, the Social Insurance Contribution rates for each of the employer and the employee are increased by 0,5% and for self-employed individuals by 1%.

Important Amendments on 50% Income Tax Exemption

On 22 June 2023 the Cyprus Parliament approved further amendments to the Income Tax Law in relation to this incentive.

Earnings Threshold for Employment Contribution Purposes for 2023

The earnings cap for Social Insurance purposes for 2023 has increased to €60,060 per annum (2022: €58,080 per annum).
It is reminded that the contributions an employer is required to make...

Income Tax exemptions for Persons who Move to Cyprus for Employment - Clarifications by Tax Department

On 1 November 2022 the Cyprus Tax Department issued Tax Circular 10 of 2022, providing clarifications and examples on how the exemptions are applied in practice.

Electronic Submissions and Payment of Overdues to Social Insurance Department

The Cyprus Ministry of Labour and Social Insurance has recently announced the following in relation to electronic submissions and payments...

Exemption from Submission of Personal Income Tax Return for 2022

Individuals whose gross annual income is below €19.500 have been exempted from the obligation to submit a personal income tax return for the tax year 2022.

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