Extension of Deadline for Registration of Employment Details
The Ministry of Labour and Social Insurance Services announced on 28 February 2025 that an extension of three months is granted for registration of the essential terms of employment in the Ergani Information System.
Tax Reform in Cyprus
The proposals for the long-awaited tax reform were presented during a press conference on 26 February 2025.
Filing of Corporation and Income Tax Return for 2022
On 13 February 2025 the Cyprus Tax Department announced that no penalties will be imposed for late submission of the Corporation Tax Return for 2022…
Reference Interest Rates for 2025 for Notional Interest Deduction on Equity
The Cyprus Tax Department published on 14 February 2025 the bond yield rates as at 31 December 2024 for a number of countries, to be considered for the Notional Interest Deduction to which equity injected in to Cyprus companies is entitled for 2025.
Grace Period for Filing of Corporation Tax Return and SIT for 2022
On 12 February 2025 the Cyprus Tax Department announced that while the deadline for submission of the Corporation Tax Return for 2022 for taxpayers with an obligation to submit a Summary Information Table remains on 28 February 2025, no penalties will be imposed for late submission as long as this happens before 31 May 2025.
Deemed Dividend Distribution for 2024
31 December 2024 is the cut off date for assessing whether there a Deemed Dividend Distribution will need to be considered for Special Contribution for Defence purposes.
Double Tax Treaty between Cyprus and Luxembourg enters in to force
The Double Tax Treaty between Cyprus and Luxembourg entered into force on 21 May 2018
Double Tax Treaty between Cyprus and Andorra Enters in to Force
Some important amendments to the Cyprus Companies’ Law have been introduced recently…
Holidays Are Coming
There is still a long way to go before we can claim that we got our lives back, but there is no doubt that great virtues have been demonstrated by people all over the world in overcoming all hurdles…
Best wishes from Seamark!
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…