Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased

July 10, 2020

From March 1, 2020, contributions to the Fund of the state health insurance system of Cyprus GESY were supposed to grow as part of the second stage of the reform of this system, but due to the pandemic, a three-month delay was made from April to June.

Contributions to the Fund are provided for employers, employees, pensioners, civil servants, self-employed persons and the state.

Below is a comparative table of previously applied and increased rates:

Most Read News

January 24, 2020

Professional Tax – new tax for Cyprus companies

At the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.

May 18, 2020

CRS and FATCA: extension of reporting deadlines

In 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.

December 03, 2019

Happy Lawyer’s Day!

December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!

May 08, 2020

CySec: Changes of the Due Date for Some Obligations in Cyprus

The financial regulatory agency of Cyprus (CySec) has changed some due date obligations for issuers, providers and funds: The due date for the obligation of issuers to publicise the annual financial statements for 2019, is postponed for the 30 of June 2020. The due date for [...]

February 24, 2019

Amendments to Cyprus Company Law

The Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law.

April 15, 2020

Professional consulting support of our specialists

Taking into account the current situation, our clients have a lot of different issues that require professional consulting support on-line.

February 17, 2020

OECD has published a consultation document on the review of Country-by-Country Reporting

OECD released public consultation document that is based upon the mandate set out in the BEPS Action 13 report, and focuses on issues concerning the use of CbC reports by tax administrations for the purposes of a high level transfer pricing risk assessment. The public consultation document [...]

December 18, 2019

New penalties for late submission of HE32

As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019. Please note that the deadline for submission of Company Annual Return (HE32) was extended until A [...]