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27
Feb
Feb
In a significant development, the Council of Ministers during their Session on February 21, 2024, decided to abolish the annual company levy of 350 Euro, effective from this year.
The annual company levy had been imposed since 2011 as part of measures to address the financial crisis and fiscal consolidation.
The proposed abolition of the annual corporation tax represents a significant step towards fostering a more favourable business environment, relieving financial burdens on companies, and boosting business activity.
The decision of the Council of Ministers is anticipated to undergo voting in Parliament soon.
Latest News
20
Jul
Jul
The Cyprus Parliament has unanimously approved an amendment to the Income Tax Law which now allows an individual to be considered a tax resident in Cyprus provided that the individual does not stay in any other state for one or more periods which exceed 183 days in the tax year, the individual is not tax resident in any other state for the same tax year and the following conditions are met....
09
Oct
Oct
The Cyprus Parliament approved the amending Law 116 (I) 2017, which amends the basic existing Law 100 (I) 1997 for the protection of the Maternity, and it is in effect as from 1st August 2017.