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Cyprus, July 2023 – The Tax Department recently amended the law for income tax exemptions (a 50% exemption) for non-residents of Cyprus.

The revised law has backdated effect as of 1st of January 2022 and affects personal income tax declarations for 2022.

The changes concern individuals who were non-residents of Cyprus for a period of 15 years previous to their first employment in the Island, and with an annual income which exceeds €50,000. Before the changes, the law only applied to persons with an annual income of more than €100,000.

A few details and important changes:

• The non-tax residency condition has been extended from 10 consecutive years to at least 15 consecutive years immediately before the commencement of the individual’s first employment in Cyprus.
• The recent changes clearly state that exemptions apply to remuneration FROM employment in Cyprus, where before it was limited only to the remuneration from FIRST employment in Cyprus. This amendment greatly expands the total number of beneficiaries of the provision and allows individuals to qualify for the exemption even if they change their employer within the period of 17 years.
• The exemption applies for a period of 17 tax years or until the provisions of the Article are ended, whichever is the earlier, starting from the tax year of the start of first employment of the individual in Cyprus.
• Individuals who were previously eligible for the 50% exemption of their remuneration from their first employment will continue to benefit from the exemption provided that all the conditions, as they were in effect before the date of the publication of the Amending Law, are met.

Have in mind that employed persons, pensioners and self-employed persons whose total gross income for 2022 exceeded €19,500 must file income tax declarations.

❗️𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬 𝐚𝐧𝐝 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐭𝐚𝐤𝐞 𝐜𝐚𝐫𝐞 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐢𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱 𝐝𝐞𝐜𝐥𝐚𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐜𝐨𝐧𝐬𝐮𝐥𝐭 𝐲𝐨𝐮 𝐨𝐧 𝐭𝐡𝐞 𝐭𝐚𝐱 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐚𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐭𝐨 𝐲𝐨𝐮𝐫 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐜𝐚𝐬𝐞❗️

Cyprus – In which sectors can third-country students be employed?

Cyprus – The Minister of Labour and Social Insurance has amended the Decree concerning the employment of Third Country Nationals who are in the Republic with the status of a student, in which specific sectors of economic activity can they be employed, and in which professions.

The change allows students who are in the Republic on October 31, 2022, to also be employed as “food delivery workers“ provided that they secure an employment contract with a specific employer, certified by the Department of Labour, and in which the main terms of employment are clearly indicated.

The student must also present a certificate of full-time studies, a document with the study schedule from a recognized institution of study as well as his/her residence permit. The monthly work schedule of the student must also be communicated to the Department of Labor.

Practical training

During the period from June 1st to October 15th, the employment of hotel/catering/restaurant students in HORECA-related businesses is allowed for internship purposes based on the current policies and procedures.

Finally, where the degree requires it, students of recognized fields of study will be able to be employed for practical training purposes, provided that there is a written agreement between the employer and their educational institution previously submitted to the Department of Labour.

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Tax return deadline extended until October 2 | Cyprus Mail The cabinet on Wednesday approved a bill proposing tax rebates for energy upgrades to businesses, as well as an extension of the tax deadline for individuals to October 2 and the suspension for another year of the obligation to file a tax return for those earning €19,500 or under. According…