On 15 July 2022, the Cyprus House of Representatives voted in favor for the replacement of the existing income tax exemptions for employment income. We outline here below the new income tax exemptions: As from 1 January 2022, the “new” 50% tax exemption applies on remuneration for first employments exceeding EUR55.000 p.a., by individuals who […]

The House of Representatives have approved amendments to the Companies Law and to the Assessment and Collection of taxes Law to facilitate and ease the obligations of small and medium size enterprises and of individuals. In summary if the below mentioned thresholds are met the enterprise will be subject to a limited assurance review instead […]

We kindly remind you that under the provisions of the Income Tax Law, every Company must submit to the Tax Authorities by 31st July a preliminary self-assessment, declaring the Company’s estimated Taxable income of the current year as well as the respective Tax payable. The general income tax rate for all companies for 2022 is […]