Proceeding either with the purchase or sale of an Immovable Property it can be a stressful procedure. In the below we will explain in brief the procedure of a purchase of an Immovable Property alongside with the procedure of a sale of an Immovable Property in order to know your rights and obligations. Purchase…
Dear Sir/Madame, We would like to bring to your attention that according to the Cyprus Company Law, Cap. 113 all Companies are liable to pay the levy of €350 for the year 2018. Please note that the deadline for the payment is 30/06/2018. If the levy is not paid till 30/06/2018, penalties will be imposed…
Dear Clients, Since 9th of April 2016 the Central Bank of Cyprus (CBC) has activated the Deposit Guarantee Scheme (DGS) compensation for FBME Bank Ltd – Cyprus Branch (FBME) deposit holders. The Deposit Guarantee and Resolution of Credit and Other Institutions Scheme, which has been established by Law (“the DGS”), will pay via the Deposit…
Dear Clients, We would like to inform you that the Cyprus Tax Department informs about the submission date for Income Tax Returns of Companies (IR 4) and Self Employed with accounts (IR1 Acc) for the year 2016 is extended until the 30th of June 2018. For any information, please do not hesitate to contact us….
Dear clients, We would like to inform you that the Cyprus Tax Department has issued a further reminder that tax returns (Personal Income Tax(IR1)) for the year 2017 must be submitted electronically, by means of its TAXISnet web portal. Meanwhile you are urged to register with the TAXISnet system. The deadline for submission of your…
We would like to bring to your attention that by virtue of the decision of the Council of Ministers dated 23/05/2014, every male who became Cypriot citizen by exception of investment has no obligation to attend the Cyprus Army, provided that he submits the necessary letter to the Minister of Defense requesting his exemption from…
On January 17th and 20th in Hanoi and Ho Chi Minh, Vietnam, Areti Charidemou & Socrates Ellinas of Areti Charidemou and Associates LLC held a workshop dedicated to Cyprus Tax, Corporate and Immigration incentives. The event was attended by many private individuals and corporate representatives from all over Vietnam, being prospective immigrants, international home buyers, potential…
Payments of pay as you earn tax (PAYE) Dear Clients, Payments of PAYE (“Pay as you earn” tax deduction on employees’ salaries) in the district offices of the Inland Revenue Department (Cyprus Tax Authority) will only be acceptable until the 28th of February 2018. As from the 1 March 2018, the Cyprus Tax Authority will…
Incentives or Tax deductions for investment in small and medium size innovative business The Cyprus Government aiming to give motive and to produce investments introduced a new framework with tax incentives for investments in small and medium sized innovative business. Under the new Article 9A of the Income Tax Law 2002 introduced by the Income…
Date Description End of each month (Jan- Dec) Payment of PAYE relating to employees’ salaries for the previous month Payment of Special Defence Contribution withheld on dividends or interest or rent paid of Cyprus tax residents in the previous month Payment of tax withheld on payments to non-Cyprus tax residents of the previous month Payment…