The Cyprus Tax Department published on 16 March 2023 the bond yield rates as at 31 December 2022 for a number of countries, to be considered for the Notional Interest Deduction to which equity injected in to Cyprus companies is entitled for 2023.
The Tax Department announced on 17 March 2023 that the deadline for submission of VAT returns is extended as follows...
The Tax Department announced that the Tax For All Portal will go live on 27 March 2023.In the announcement the Tax Department communicated the following deadlines for submissions and payments.
On 30 November 2022, the Council of Ministers approved the Amendment of the Policy for the Registration of Companies in the Register of Foreign Interest Companies. The decision entered into force on 12 December 2022.
Οn 17 January 2023, the Tax Department announced the commencement of the gradual implementation of the Tax For All (TFA) Portal. The portal is intended to replace in stages the TAXISnet platform as well as other systems and procedures.
With a decree issued on 28 December 2022, the Minister of Finance of the Republic of Cyprus has increased the public interest rate for 2023 to 2.25% (2022: 1.75%).
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...
Companies with accounting profits for tax year 2020 which fall within the Deemed Distribution (DD) provisions, would have to declare a sufficient amount of dividend, in order to meet the 70% threshold of distributed profits on or before 31 December 2022.
