English
news
-
Social Insurance and National Health contributions for 2023
- May 26, 2023
- Posted by: admin
- Category: Accounting & Finance, Taxation
No Comments
Social Insurance Contributions for 2023 The Social Insurance Contributions for 2023 are summarized below: Contributions Employee Employer Self-Employed Social Insurance 8,30% 8,30% 14,60% Social Cohesion Fund 2,00% Redundancy Fund 1,20% Industrial Training Fund 0,50% Holiday Fund (if not exempt) 8,00% TOTAL 8.30% 20.00% 1460% The Social Insurance Office lays down yearly the maximum amount
-
Discover INTELLECTUAL PROPERTY ( IP ) CYPRUS
- May 3, 2023
- Posted by: admin
- Category: Fiduciary, News, Taxation
A Favourable IP Regime Cyprus Intellectual Property “IP” Regime – Main Benefits Cyprus IP Box Regime protects the IP but also offers economic-tax benefits. Tax Benefits An organisation may achieve an effective tax rate of 2.5%. Cyprus’s IP Regime entails a Tax Benefit which provides for an 80% exemption of income from and gains on the
-
TAX DIARY 2023
- January 2, 2023
- Posted by: admin
- Category: News
Financial Consultants International F.C.I. LTD offers to businesses and individuals, the Tax Calendar as a tool for better planning of the tax obligations for the current year. 31 January Submission of declaration of deemed dividend distribution (TD623) for the year ended 31 December 2020. 31 March Electronic submission of the 2021 corporation tax return
-
Action Plan for attracting Foreign Companies to Cyprus
- November 2, 2021
- Posted by: Panos
- Category: Immigration, Investments, News, Taxation
The Cypriot Ministry of Finance presented this month an Action Plan for attracting companies to operate or expand their activities in Cyprus, aiming to make the island a sustainable business hub. The key points of the presented Action Plan are briefly summarised below: Transformation of the existing Fast Track Business Activation Mechanism into a Business
-
Cyprus Business News – Commencement of Ultimate Beneficial Owners (UBOs) Register of Companies and Other Legal Entities in Cyprus
- June 10, 2021
- Posted by: Panos
- Category: News
We would like to inform you that Cyprus has recently proceeded with the full transposition of the 4th European Directive (EU 2015/849) into domestic law and activated the implementation of the Ultimate Beneficial Owner (UBO) Register of Companies and other legal entities in Cyprus. The Registrar of Companies (RoC) and Official Receiver has been authorized
-
Relocation, Investment Strategies and Opportunities
- June 16, 2020
- Posted by: Panos
- Category: Fiduciary, Investments, News, Taxation
The economy worldwide, following the pandemic of COVID-19, has major issues to face. Likewise, the Investors and Shareholders need to re-assess and re-set their strategies. Part of such re-assessment can be the issue of relocation of head-quarters or part of their company or group functions. Such decision may result in serious tax savings. Evaluation of
-
F.C.I. Company Formations – Administration Update during COVID-19 Outbreak
- March 19, 2020
- Posted by: Panos
- Category: News
Dear Clients and Colleagues, The team of F.C.I. LTD hopes that you and your families are safe and healthy during this troubling time. We are happy to report that our offices are open, and our staff is working by following best health practices at the temporary working hours 08.00 am to 16.30 pm.
-
Social Insurance and National Health contributions for 2020
- February 21, 2020
- Posted by: Panos
- Category: News
In 2020, Social Insurance contributions remain the same as in 2019 whereas contributions to the General Healthcare System will be increased on 1 March 2020. This increase is offset for individuals by the recent increase of the maximum annual tax deduction from 1/6th to 1/5th of their taxable income. Social Insurance Contributions for 2020 The