8:30 - 17:30  |  Mon - Thu
8:30 - 14:30  |  Fri
+357 22-100192  |  Nicosia
+357 25-100692  |  Limassol
Nicosia
Limassol

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Following the actions aimed on the strengthening of AML regulation and enhancement of transparency, the Cyprus Parliament has voted on the implementation of a Beneficial Ownership registry for all Cyprus legal entities.

The starting date for the collection of information is the 16th of March 2021.

You may find the relevant Circular (only available in Greek) by clicking here.

 

We remain at your disposal for anything you may need. 

 

Contact persons


Anna Solomou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Head of Accounting

-

Pavlos Tsiaklides

This email address is being protected from spambots. You need JavaScript enabled to view it. 

+357 22 100 192

Head of Audit

-

Andreas Odiatis

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 25 100 692

Audit Manager

 

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Ανακοίνωση σχετικά με την Κρατική Χορηγία λόγω COVID-19

Σύμφωνα με ανακοίνωση του Τμήματος Φορολογίας σχετικά με την Κρατική Χορηγία λόγω COVID-19 σε επιχειρήσεις που δραστηριοποιούνται στην Κύπρο, θα θέλαμε να σας ενημερώσουμε ότι προκειμένου να προχωρήσει η διαδικασία και να καταστεί δυνατή οποιαδήποτε πληρωμή, θα πρέπει να δηλωθεί o IBAN της επιχείρησης μέσω του εντύπου ΤΦ1900, το οποίο θα πρέπει να αποσταλεί στην ηλεκτρονική διεύθυνση This email address is being protected from spambots. You need JavaScript enabled to view it..

Διευκρινίζεται ότι επιχειρήσεις οι οποίες δεν έχουν την υποχρέωση για εγγραφή στο ΦΠΑ, θα πρέπει να υποβάλλουν επιπλέον το έντυπο ΤΦ9001 στην ίδια ηλεκτρονική διεύθυνση.

Παραμένουμε στη διάθεσή σας για οτιδήποτε χρειαστείτε.

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Ακολουθεί το ίδιο κείμενο στα Ελληνικά / Following is the same text in Greek.

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Announcement regarding the Government Grant for COVID-19

According to the Tax Department’s announcement regarding the Government Grant for COVID-19 to businesses operating in Cyprus, we would like to inform you that in order for any payments to be possible, the business's IBAN must be declared through ΤΦ1900 form, which should be sent by email at the following address: This email address is being protected from spambots. You need JavaScript enabled to view it..

Regarding businesses that do not have the obligation for registration to VAT, the ΤΦ9001 form will also need to be submitted to the above email address.

We remain at your disposal for anything you may need.

 

 

Contact persons


Anna Solomou

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Head of Accounting

-

Pavlos Tsiaklides

This email address is being protected from spambots. You need JavaScript enabled to view it. 

+357 22 100 192

Head of Audit

-

Andreas Odiatis

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 25 100 692

Audit Manager

 

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The reduced VAT rate from 9% to 5% for the provision of accommodation services in the hotel sector, restaurants and catering and passenger transport expired on 10th of January 2021. 

Therefore, from 11th of January 2021 the VAT rate on these services is charged on the normal rate of 9%.

It should be noted that the reduced rate of 5% instead of 9%, for the below services, was introduced by the Government only for the period from 1st of July 2020 to 10th of January 2021.

  • Hotel, tourist and other similar accommodation
  • Restaurant and catering
  • Transport of passengers within the Republic with a taxi or bus. 

 

We remain at your disposal for anything you may need.

 

Contact persons


Leonidas Papadopoulos

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Head of Accounting

-

Pavlos Tsiaklides

This email address is being protected from spambots. You need JavaScript enabled to view it. 

+357 22 100 192

Head of Audit

-

Andreas Odiatis

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 25 100 692

Audit Manager

 

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Expatriate relief 

The House of Representatives voted on 3rd of December 2020 the extension of the tax exemption to a person who was based overseas and was not Cyprus tax resident before the commencement of employment in the Republic. The tax exemption applicable is at a rate of 20% of the person’s salary or in the amount of 8.550 euros (the lower of the two), until the tax year 2025. The tax exemption applies for five years, starting from the tax year following the year of commencement the employment. The purpose of the above is to attract workforce and investment in Cyprus.

 

Tax reliefs for restructuring of loans

Additionally, on 3rd December 2020 the House of Representatives voted for the extension to the current legislation in respect of offering tax incentives and reliefs of the debt restructuring until 31 December 2021.

Below is a brief description of the main tax reliefs and incentives in relation to loan restructuring arrangements.

  • In case of loan restructuring, there is no payment of stamp duty. It should be noted that there is no payment of stamp duty up to the amount of the existing debt.
  • Any profit arising from the disposal of the property in the context of a loan restructuring is exempt from capital gains tax. 
  • When there is a transfer of real estate to the lender, there is no payment of land transfer fees.
  • Accounting profits arising in the context of restructuring are not subject to the deemed distribution provisions.
  • Anу benefit, profit or gain arising in the context of restructuring is exempt from income tax.

 

We remain at your disposal for anything you may need.

 

Contact persons


Leonidas Papadopoulos

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 22 100 192

Head of Accounting

-

Pavlos Tsiaklides

This email address is being protected from spambots. You need JavaScript enabled to view it. 

+357 22 100 192

Head of Audit

-

Andreas Odiatis

This email address is being protected from spambots. You need JavaScript enabled to view it.

+357 25 100 692

Audit Manager

 

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