3016 Limassol, Cyprus

41, Misiaouli & Kavazoglou Street, 2nd Floor, Office 201

+357 25 87 14 14

41, Misiaouli & Kavazoglou Street, 2nd Floor, Office 201

+357 96 63 66 26

WhatsApp, Viber​

In accordance with the Circulars No. 48 and No. 49 issued by the Cyprus Tax Department in July 2021, it is now officially confirmed that the grants and other allowances provided to companies and the self-employed due to the Covid-19 pandemic are not taxable.

The specific allowances which were granted to cover rents and other operational expenses, are subject however to SDC and GeSY contributions.

As always, M. Target Group specialists remain at your disposal should you require any further information, clarification or professional assistance with any tax matter.

Sign up for our Newsletter

Stay up to date on the latest industry news, tax calendar events, and our team achievements