A useful guide for tax payment deadlines and other filing obligations for the Year 2019. For more info click here.
Our Thinking. Blog.
As from the 1st of January 2019 the Social Insurance fund contributions have been increased and as from the 1st of March 2019 a new contribution will be introduced for GESY – National Health System.
For more information, please click here.
A new double tax treaty with the United Kingdom has been signed on the 22nd of March 2018. All necessary steps have been performed by both countries and the treaty is effective since 18 July 2018. The new treaty is expected to strengthen and further develop the economic relations between the two countries. This treaty will come to replace the existing treaty between Cyprus and the United Kingdom which was signed in Nicosia on the 20th of June 1974 and came into effect on the 18th of March 1975.
For the main summarized provisions of the treaty, please click here.
The Tax Department, released an update to inform that, following the successful implementation of the compulsory electronically payment of the P.A.Y.E. Deducted that came into force as from the 1st of March 2018, the electronically tax payments will be further implemented to other taxes as well.
Both the (a) “Annual Fee” under section 4(2) of the Cyprus Registry Maintenance Annual Fee Law and the (b) “Tonnage Tax” for Cyprus ships under the Taxation of Owners of Cyprus Ships Notification of 2012 (P.I.137/2012) section 9 of the Merchant Shipping Law of 2010 (Law 44(I)/2010); are payable on the 31st of March each year.
The Cyprus Department of Merchant Shipping has decided to extend the date of payment for both the tonnage tax and annual fee of Cyprus flag ships to 2nd of April, given the fact that this year the 31st of March is a Saturday. Therefore the next working date is the Monday, 2nd of April 2018.