{"id":49775,"date":"2024-01-01T15:44:28","date_gmt":"2024-01-01T15:44:28","guid":{"rendered":"https:\/\/epidosis.gr\/EpidosisBlog\/?p=49775"},"modified":"2024-01-03T13:12:18","modified_gmt":"2024-01-03T13:12:18","slug":"10-tips-for-your-business-costing","status":"publish","type":"post","link":"https:\/\/epidosis.gr\/en\/10-tips-for-your-business-costing\/","title":{"rendered":"Frequently Asked Questions from Clients: The Case of Cyprus"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"49775\" class=\"elementor elementor-49775 elementor-49774\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a443e0e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a443e0e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f645fa4\" data-id=\"f645fa4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9332f7d elementor-widget elementor-widget-heading\" data-id=\"9332f7d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-large\">1. What is the process regarding salary and insurance?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65a7239 elementor-widget elementor-widget-text-editor\" data-id=\"65a7239\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>You can be insured as an employee of your company in two ways:<\/p>\n<ul>\n<li><strong>Employed by your company with a permanent residence outside Cyprus.<\/strong><\/li>\n<\/ul>\n<p>In this case, you pay social insurance to Cyprus. For example, with a net salary of \u20ac1000, you need to pay \u20ac290.30 in social insurance each month.<\/p>\n<\/p>\n<ul>\n<li><strong>Employed by your company with a permanent residence in Greece and payment of insurance contributions within Greece (employer&#8217;s registration).<\/strong><\/li>\n<\/ul>\n<p>This is a special regime, and insurance is considered as that of an employee. The total contributions amount to 36.16%. In this case, the insured person is responsible. An agreement is signed between the company and you (we prepare and send it to you). When the process is complete, we go to the Social Insurance Services (EFKA) where you belong. Every month, the Single Social Security Contribution (APD) is prepared. However, any obligations that arise burden the employee, not the company. <\/p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b36255f elementor-widget elementor-widget-heading\" data-id=\"b36255f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">2. I want to buy a tablet\/mobile\/laptop; how should the invoice be issued with or without VAT?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-761dd51 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"761dd51\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>If the purchase is made from a Cypriot store<\/strong> you can buy them without VAT (according to Article 11E, regarding the purchase of mobile phones, laptops, and tablets). This is possible as long as they are purchased from any person (legal or natural, i.e., businesses, companies, freelancers, associations, organizations, unions, etc.) with an active VAT registration number, intended exclusively for professional use or the promotion of their activities.<\/p>\n<\/p>\n<p><strong>If the purchase is made from a store in Greece, <\/strong>the invoice should include VAT, as otherwise, the method of transporting the product to Cyprus will be requested.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-780d9c8 elementor-widget elementor-widget-image\" data-id=\"780d9c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"656\" src=\"https:\/\/epidosis.gr\/wp-content\/uploads\/2024\/01\/BLOG_A_020124_Epidosis.png\" class=\"attachment-large size-large wp-image-49789\" alt=\"\" srcset=\"https:\/\/epidosis.gr\/wp-content\/uploads\/2024\/01\/BLOG_A_020124_Epidosis.png 1000w, https:\/\/epidosis.gr\/wp-content\/uploads\/2024\/01\/BLOG_A_020124_Epidosis-300x197.png 300w, https:\/\/epidosis.gr\/wp-content\/uploads\/2024\/01\/BLOG_A_020124_Epidosis-768x504.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2167d3f elementor-widget elementor-widget-heading\" data-id=\"2167d3f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">3. If a company sells to individuals within the EU, what happens? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c7be7c elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"9c7be7c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>When sales are made to individuals, the company must charge Cypriot VAT (19%).<\/strong> It is crucial that when sales to individuals within the EU exceed \u20ac10,000 (new pan-European limit), the company must charge and declare the VAT of the individual&#8217;s country and pay it through the One-Stop Shop (OSS). (The company has registered with the OSS).<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ab58d0 elementor-widget elementor-widget-heading\" data-id=\"2ab58d0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">4. When is the Income Tax submitted? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f74f80 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"6f74f80\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The tax return (IR4) is submitted 15 months <strong>months after the end of the tax year <\/strong>(e.g., the 2022 declaration must be submitted by March 31, 2024) through the Taxisnet system.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e15295e elementor-widget elementor-widget-heading\" data-id=\"e15295e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-large\">5. How is the Income Tax paid?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d78dc5b elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"d78dc5b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The tax is payable <strong>in two equal installments.<\/strong> The first installment must be paid by <strong>August 31st<\/strong> of the same year, the second by <strong>January 31<sup>st<\/sup><\/strong> of the following year (if you wish, it is possible to pay the total amount once, thus reducing court costs). The remaining amount of tax that may arise in the audited financial statements should be paid by August 31 of the following year.<\/p>\n<\/p>\n<p>You can pay through your bank account. The banks connected to the Taxation Department are: Bank of Cyprus, Eurobank Cyprus, National Bank of Greece, Astrobank, Alpha Bank Cyprus, Ancoria Bank, RCB Bank, Hellenic Bank, Societe Generale, Societe Generale Bank. Specifically, you will enter web banking, choose Transfer&amp;Pay -&gt; Pay bills -&gt; Tax payments (when making the payment, enter the taxpayer ID without the dashes). <\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b2ae028 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b2ae028\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-634c93e\" data-id=\"634c93e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d15f923 elementor-widget elementor-widget-text-editor\" data-id=\"d15f923\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">You can send us a message on the&nbsp;<\/span><strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><a style=\"color: #000000;\" href=\"https:\/\/epidosis.gr\/contact\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/epidosis.gr\/contact&amp;source=gmail&amp;ust=1682768182473000&amp;usg=AOvVaw3ySEhDn_ynTjCq-mHLnJpj\"><span style=\"color: #ff6600;\">Contact Form &nbsp;<\/span><\/a><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">or you can call at our offices in Athens &nbsp;<\/span> <strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><span style=\"color: #ff6600;\"><a style=\"color: #ff6600;\" href=\"tel:+302106810690\" target=\"_blank\" rel=\"noopener\">2106810690<\/a><\/span><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\"> on in Thessaloniki <\/span><strong style=\"font-size: 1rem; font-style: inherit; color: rgb(0, 0, 0); background-color: var(--ast-global-color-4);\"><span style=\"color: #ff6600;\"><a style=\"color: #ff6600;\" href=\"tel:+302310477725\" target=\"_blank\" rel=\"noopener\">2310477725 <\/a><\/span><\/strong><span style=\"font-family: GothamGRMedium, sans-serif, \"Proxima Nova\", sans-serif; font-size: 1rem; font-style: inherit; font-weight: inherit; background-color: var(--ast-global-color-4);\">to set the date of the seminar.<\/span><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9242aad elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9242aad\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-02e4862\" data-id=\"02e4862\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-88f03b5 elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"88f03b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-book-open\" viewBox=\"0 0 576 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M542.22 32.05c-54.8 3.11-163.72 14.43-230.96 55.59-4.64 2.84-7.27 7.89-7.27 13.17v363.87c0 11.55 12.63 18.85 23.28 13.49 69.18-34.82 169.23-44.32 218.7-46.92 16.89-.89 30.02-14.43 30.02-30.66V62.75c.01-17.71-15.35-31.74-33.77-30.7zM264.73 87.64C197.5 46.48 88.58 35.17 33.78 32.05 15.36 31.01 0 45.04 0 62.75V400.6c0 16.24 13.13 29.78 30.02 30.66 49.49 2.6 149.59 12.11 218.77 46.95 10.62 5.35 23.21-1.94 23.21-13.46V100.63c0-5.29-2.62-10.14-7.27-12.99z\"><\/path><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-21ecd17 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"21ecd17\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3c39d3b\" data-id=\"3c39d3b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>1. What is the process regarding salary and insurance? You can be insured as an employee of your company in two ways: Employed by your company with a permanent residence outside Cyprus. In this case, you pay social insurance to Cyprus. For example, with a net salary of \u20ac1000, you need to pay \u20ac290.30 in [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":49778,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[27,28,29,14],"tags":[],"class_list":["post-49775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-en","category-blog","category-newsletter-en","category-14"],"acf":[],"_links":{"self":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/comments?post=49775"}],"version-history":[{"count":5,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49775\/revisions"}],"predecessor-version":[{"id":49827,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/posts\/49775\/revisions\/49827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/media\/49778"}],"wp:attachment":[{"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/media?parent=49775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/categories?post=49775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/epidosis.gr\/en\/wp-json\/wp\/v2\/tags?post=49775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}