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How do I submit my Income Tax Declaration? When am I able to submit the declaration? Are there any reasons I could be exempt from submitting income tax declarations? Read below information provided by the Fairfax team to understand how and why you should submit your income tax declaration.

Taxisnet Portal

The Taxisnet portal by  Republic of Cyprus’ Ministry of Finance Tax Department is an online service which enables you to submit your Income Tax Declaration.  The portal is in both Greek and English and can be accessed here

When can I Submit the declaration?

The Fairfax team would like to announce that the Income Tax Declaration for individuals for the tax year 2021, is now available on the Taxisnet System and the deadline will be the 31st of July 2022.

Who needs to complete the submission?

According to Circular 51/2022 any individual with any income above €19500 is obliged to submit personal income tax return.  We would like to remind you that The Council of Ministers have issued a decree (No.51/2022) on the 4th of February 2022, that individuals whose gross annual income is below €19,500 are exempt from  the obligation to submit a personal income tax declaration for the tax year 2021.

In the event that your gross annual income is above €19,500 the expert team at Fairfax is available to assist with the submission process or any other tax issues you may have on accounts@fairfaxyeaman.com  or by calling +357 25558025

Fairfax specialises in the outsourcing of payroll, provident funds, bookkeeping and accounting services in Cyprus which offers a cost-effective strategy that saves companies time, staff and infrastructure costs.

As an Employer do I have to register a new employee on “Ergani”?

The team at Fairfax would like to inform you that the Ministry of Labour, Welfare and Social Insurance announced that from the 28th of January 2022; the employment of all new employees should be declared on the new “ERGANI” platform, even after they have exceeded their submission date of declaration through “ERGANI”.

When does an employer have to submit the details of a new hire on “Ergani”?

More specifically, based on the regulation R.A.A. 167/2017, every employer has the obligation to submit new hires online through “ERGANI” at least one day before the start date, this can be done up until 23.59p.m (local time) on the date before their employment commences.  The submissions are only considered and referred to as “on-time” submissions if done in the timeframe as mentioned above.

What do I do as an employer if I did not submit the details of a new hire “On-time”?

From the 28th of January 2022 and onwards, every employer is required to submit the new employee registrations on-line through “ERGANI”.  If the registration has exceeded the submission date (day prior to the employee starting) the submissions must still be carried out as promptly as possible and will be referred to by the Ministry of Labour, Welfare and Social Insurance as “expired” submissions.

Although submissions are accepted after the submission deadline and what is defined as “on-time” the Ministry of Labour, Welfare and Social Insurance  and the team and Fairfax highlight that it is employers obligation to make these submissions on time and we encourage all employers to do so based on the regulation R.A.A. 167/2017.

Will there be a penalty if an employer submits an employee registration that is considered an expired submission?

The Ministry of Labour, Welfare and Social Insurance clarify that when submitting “expired” registrations, overdue liabilities might occur.  This liabilities will have to be paid immediately at the Social Insurance offices along with the completed and signed Earnings and Contributions Statement to show that all the individual monthly employee’s salaries are being paid.

Can an employer back date a registration?

Employers have the ability to process registrations via ‘Ergani’ up to 6 years back.

The Fairfax Service

If payroll and all employers’ liabilities are causing a head ache or you do not have the capacity or knowledge to process this inhouse, have you considered outsourcing your payroll function?

Fairfax are industry experts with the knowledge of historic and new legislations ensuring all payrolls are executed not only accurately and efficiently but also in line with all Cyprus government regulations.  Avoid any penalties and any employees not being registered correctly by contacting our  team today to discuss an outsourced payroll solution +357 25558025 or email accounts@grsrecruitment.com

Fairfax announcing the new portal to submit an application for Sickness Benefit

The Fairfax team would like to inform their clients and associates The Ministry of Labour, Welfare and Social Insurance in Cyprus have publicised that from the 7^th of February 2022 to apply for the sickness benefit you are now able to submit this application online through the website http://www.mlsi.gov.cy/sid

How to submit the sickness benefit application?

In order to submit the online application for sickness benefit, it is necessary for the insured individuals to first create and activate an online profile on the electronic platform Cy-Login (Ariadni).   Once this is created and activated insured individuals can then proceed to complete and submit the application online.

From when can you still submit a paper application for the sickness benefit?

The Ministry of Labour, Welfare and Social Insurance in Cyprus have emphasized the fact that the possibility of submitting an application in printed form will remain valid only for the next week (until 20^th February 2022).   After this period the application for sickness benefit will be possible only through the online process as highlighted above.

You can find the official government announcement here (currently only available in the Greek language):

At Fairfax we specialise in the outsourcing of Payroll and service many international and local clients as well as individuals with all payroll related payments and queries.  Our team of experts are well trained and are keeping abreast of all changes to Cyprus legislation in regards to payroll and benefits.  If you require assistance in regards to payroll, tax or benefits or you wish to discuss outsourcing this function please contact our experienced team on call +357 25558025 or email accounts@fairfaxyeaman.com

The Council of Ministers have announced a new ministerial decree (No.288/2021), that individuals whose gross annual income is below €19,500 are exempt from submitting a personal income tax declaration for the tax year 2020.

As a reminder, in August 2020 the House of Representatives amended the Assessment and Collection of Taxes Law making it mandatory for all taxpayers to submit tax returns irrespective of their income level as from the tax year 2020.

Please bear in mind the article published by Fairfax on 21^st April 2021 informing our customers that the electronic submission of the 2020 personal income tax return for individuals with a gross annual income of more than €19,500 has been extended to 30 September 2021.

The expert team at Fairfax are available should you require any further information or clarifications on this or any other tax issues on accounts@fairfaxyeaman.com or by calling +357 25558025

In April 2021 the Cypriot House of Representatives voted to amend certain provisions relating to the Assessment and Collection of Taxes Law 4/78.

They agreed in extending the deadline for submission of certain direct tax returns and payment of certain tax liabilities.

The changes are as follows.

‘Employees and Pensioners’ (Form T.D.1 employees)

The deadline for electronic submission of the 2020 income tax return of ‘employees and pensioners’ (i.e. those individuals completing form ‘T.D.1 employees’) has been extended from the end of 31 July 2021 to the end of 30 September 2021 and with a further extension to 30 November 2021 .

The deadline for the payment of the related tax via self-as and assessment has been extended to the same date.

‘Employers’ (Form TD7)

The deadline for electronic submission of the total 2020 payroll (Form TD7) has been extended from the end of 31 May 2021 to the end of 30 September 2021.

Settlement of second instalment of the 2020 provisional tax

The deadline for settlement of the second instalment of the 2020 provisional tax has been extended from 31st January 2021 to 30th September 2021.

For any advice or assistance in relation to the above please contact the expert team at Fairfax on + 357 25558025 or email accounts@fairfaxyeaman.com