ServPRO is proud to join the CCCI in a business delegation organised under the auspices of the Ministry of Energy, Commerce & Industry of the ROC, taking place today, 10 November 2022, in the capital of Israel, Tel Aviv. ServPRO will be joining the event as an established Professional Services provider.
The 20% and 50% Income Tax Exemptions on remuneration for employees commencing their first-time employment in the Republic of Cyprus in 2022.
A year has now passed since Government launched the Republic of Cyprus' Action Plan for attracting Companies to Operate and Expand in Cyprus.
A €14m contract has been signed for the development and installation of an Integrated Registry Management Platform (IRMP) for the Republic of Cyprus. The IRMP will provide a holistic electronic service for all DRCIP-related applications, effectively eliminating the need for physical presence for document submission.
Tax Updates: Exemption from obligation to submit TD1 for individuals with income up to €19,500 for 2022. ServPRO - Your Trusted Tax Partner.
The 7th Greenfield FDI Performance Index for the year 2021 skyrockets the Republic of Cyprus by 50 places from the 68th to the 18th position for attracting foreign direct investments (FDI) in comparison to 2020. The rapid increase in FDI in Cyprus is a clear indicator of the country’s remarkable, reliable, and reputable measures taken to attract FDI investors as part of Cyprus’ Vision for 2035, which ultimately contributes to the constant improvement in Cyprus’ rates in employment, income, and by extent the level of the Cypriot socioeconomic environment.
Acting in accordance of the Minimum Limit of Salaries Law (Cap.183), Council of Ministers of the Republic of Cyprus has issued the Decree on Minimum Salary. The Decree will be implemented from 1 January 2023, which will therefrom lead to the abolishment of the equivalent Decree on Minimum Salary (Wage) of 2012 (RAA 180/2012).
Personal Income Tax returns (TD1) for the year 2021 has been extended to 23:59 hours on 31 August 2022. Employees, pensioners and self-employed individuals without financial statements, whose gross total income for the 2021 tax year exceeds €19,500 should proceed in submitting their respective Personal Income Tax returns (TD1) for the year 2021 and pay any final tax due.