Dear partners and colleagues, dear friends! We wish you and your loved ones a happy International Women’s Day! May you find success in everything you do, and enjoy the durable relationship both in business and in personal life!  May you be blessed with love, continuous professional growth and truly vernal […]

Women’s day / Announcement

The Cyprus Tax Department has now announced the 10-year government bond yields as of 31 December 2018, which will be used as the basis for the Notional Interest Deduction (NID) for the tax year 2019 (original announcement in Greek). Note: NID is a new tax incentive introduced back in 2015. Under this […]

Notional Interest Deduction on New Capital – 2019

According to the National Health Insurance System Law of 2010 (as amended in 2017), employer and employee contributions for the implementation of the system commence in 2019. As from 01st of March, 2019, employers will contribute 1,85% and the employees 1,70% on the employee’s earning. The procedure will be the […]

National Health Insurance System (NHIS)

Dear friends and colleagues, We would like to wish you a Merry Christmas and a happy New Year! May the upcoming year deliver on your most ambitious hopes and expectations, may it bring peace and wellbeing to your families, and may your trusted partners be always there for you. With […]


M. Target Group wishes to inform all clients / associates that in 2019 an increase in Social Insurance Fund (SIF) contributions will come in effect. According to the provisions of the Social Insurance Law of 2010, both employer and employee contributions were 7,8% on insurable earnings, as from 01st of […]

Social Insurance contribution increase in 2019

M.Target Group would like to remind you that all Cyprus tax resident companies have to pay the provisional tax based on the estimated current year’s profits (2018) in two installments: 1st installment: 31st July 2018  (please refer to the following announcement regarding extension of the payment deadline until August 31, […]

Provisional Tax in Cyprus – Second installment for 2018

In the furtherance of current anti-money laundering policies, the Central Bank of Cyprus has issued an additional Circular Letter DD 02.11.2018 offering revised and more extensive definitions of ‘shell companies/entities’ as well as recommendations on the relevant customer acceptance and risk evaluation procedures for local banking institutions. Please find enclosed […]

New Circular from the Central Bank on “shell companies”

M. Target Group would like to inform you that the TAXISnet system now enables you to make (if needed), changes/corrections to your income Tax Returns already submitted for the tax year 2017. Please note that the above applies strictly for the period until 30th of November 2018, following which the […]

Tax Department – Correction of Income Tax Return 2017

31 December Payment of the second installment of the 2018 provisional tax. Payment of special contribution for defense in relation to rents, dividends or interest from sources outside Cyprus for the second six months of 2018 (Form IR601). Payment of premium tax for life insurance companies – third and last […]

Cyprus Tax Deadlines: December 2018