The Latest News

Category: Social Insurance



Wheat
06/12/2021

Benefits in Kind – Social Security Contributions Treatment

News in 2021, Social Insurance, Uncategorized

In reference to the treatment of the various benefits in kind that an employee may enjoy, the Ministry Labour, Welfare and Social Insurance have clarified the taxable treatment of the following scenarios.  

View detailed list here.

For any further clarifications please do not hesitate to contact our Head of Accounting Department, Mrs Despina Demosthenous at despo@ayca.com.cy.

Wheat
14/09/2021

Ergani – Register as an employer in Cyprus

News in 2021, Social Insurance

Amendments to the Social Securities Law (167/2017) affecting Employers in Cyprus are applicable from 13 September 2021.

  1. Application to register as an Employer in Cyprus must be filed at least 1 day before it/he/she becomes an Employer.
  2. Each Employer must notify the Department of Social Securities of any new recruitments, at least one day prior to his/her employment.
  3. Each Employer must maintain an Employees register that records in recruitment date order the personal details of each employee (Numerical sequence number, Full name, ID number, Social Securities number, employment date, employment commencement date)
  4. Declarations for the commencement of employment confirmation will not be issued as of 13/9/2021.
  5. Employers in Cyprus, as of 14/9/2021, should process all notifications through the online portal “ERGANI’ https://ergani.mlsi.gov.cy.

For all employments prior to 14/9/2021, employers can instead use the current system, “SISNET”.

For any assistance and further clarifications please contact us.