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P. Constantinou & Co


January Update:
Support plans, hotels VAT, INTRASTAT, public holidays

Our latest news, announcements and updates on Cyprus, EU and International Audit, Tax, Accounting and Consulting matters.

New coronavirus support plans for January 2021
The Cyprus Ministry of Labour published the plans for the January 2021 period after the recent peak in coronavirus cases and the mandatory shutdown of certain business sectors in January.

The last date for applications for participation in the January Special Plans is Saturday 6th of February 2021.

For more information click here >
Subsidy plan for business and self-employed employees for tutoring, dance, and music schools

The Cyprus Ministry of Finance announced a special plan for specific categories of companies and self-employed who are excluded from registration in the VAT Register.
Specifically, beneficiaries for participation in the Scheme are the Approved Private Tutoring schools, registered in the Register kept in accordance with the Law on Private Schools and Tutoring, conservatories, music schools, dance schools, and other similar activities, which show a decrease in their turnover in 2020 compared to 2019, due to the restrictive measures taken to address the pandemic.

For more information click here >
INTRASTAT information and guide for 2021

INTRASTAT is the system for collecting information and producing statistics on the trade in goods between all the countries of the European Union.

Below you can read the latest announcement from the Cyprus Tax Department regarding INTRASTAT with useful guidelines and instructions (in Greek text only).

For more information click here >
Cyprus 2021 General Healthcare System and Social Insurance contributions

General Healthcare System and Social Insurance contributions in Cyprus for the year 2021 will remain the same as in 2020.

For more information click here >

Cyprus ends reduced 5% VAT period for restaurant and hotel industry

As of 11 January, Cyprus will revert to the normal 9% VAT rate (instead of the reduced 5%) for passenger transport, restaurants, hotel accommodation, and catering services.
The reduced 5% vat rate period expired on 10 January 2021 after being introduced by the government on July 2020 in an effort to help minimize the dire effects of the coronavirus pandemic on the local economy and especially the tourism and hospitality industry.

For more information click here >
Cyprus new support plan for companies and employees due to second lockdown

The government on 9/1/2021 announced additional support schemes for businesses and the self-employed affected by the latest measures. The support plans include grants, payroll subsidies, loan repayment suspension, rent subsidies, and tax breaks.

For more information click here >
Cyprus public and bank holidays for 2021

The dates listed in our post are Public and Bank Holidays in Cyprus. On these dates, all public services, private companies, banks, and shops are closed, although many shops and certain services remain open in some areas, mainly coastal areas, busy shopping streets, and resorts.

For more information click here >

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Corner of 32/1 Grigori Afxentiou and Andrea Vlami,
4003, Mesa Geitonia, Limassol, Cyprus.

Tel:   +357 25 361 000
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P. Constantinou & Co Ltd · Corner of 32/1 Grigori Afxentiou and Andrea Vlami. · Mesa Gitonia, Limassol 4003 · Cyprus

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