Cyprus retail trade sees robust growth in September 2023

The Retail Trade Turnover Index in Cyprus increased by 8.6 per cent compared to the same month the previous year, according to a report released this week by the Cyprus Statistical Service (Cystat).

Cyprus Tax Matters: Temporary Tax 2023 (1st Instalment)

The deadline for the first instalment of the Temporary Tax Assessment for the year 2023 in Cyprus is approaching and it is recommended that businesses contact their tax advisors to ensure tax compliance.

Tax deadlines pushed back as new online system opens

The new online tax payment system Tax For All has gone live, replacing the old Taxisnet system.

New tax payment site to go online March 27

New online tax payment system Tax For All will launch on March 27, replacing Taxisnet, the tax department said on Monday.

The Digital Nomad Visa in the Republic of Cyprus.

The introduction of the Digital Nomad Visa (DNV) in the Republic of Cyprus constitutes part of the Government’s Action Plan for Attracting Companies to Operate & Expand their Activities in Cyprus 2022-2024.

House passes bill extending cut in consumption tax on fuel

The House on Thursday passed a bill extending to the end of February 2023 the period for reduced consumption tax on fuel, in a move that will ease some of the pressure on households and businesses from the rising cost of living.

Cyprus Tax Updates: Personal Income Tax Return Exemption

The Council of Ministers of the Republic of Cyprus, through Regulatory Administrative Act RAA 373/2022, has issued a Decree relating to the exemption of certain physical persons from the obligation to submit a Tax Declaration (TD1) for the year 2022. In particular, every physical person who, during 2022, has had a gross income of not exceeding €19,500 is exempt from the obligation to submit a Personal Income Tax Return for the year 2022.

€2 billion in uncollected taxes

The Auditor General has called on tax officials to do all they can to collect overdue taxes, reaching a whopping €2 billion, following the report on the Tax Department.

Motorists get breather from soaring pump prices

Cypriot motorists have got a respite from rising pump prices, as petrol and diesel fell by 17 and 11 cents per litre, respectively, compared to a month ago, as crude oil is selling at its lowest price since the Ukraine war.

Date of tax returns extended

Cabinet on Thursday extended the deadline for tax returns by a month to facilitate taxpayers.