Social security contribution - Employees

    Generic part

    Social security contribution - Central holiday fund contributions (Employees)
    Ετησίων Αδειών μετ΄Απολαβών Νόμος
    CY - Cyprus
    EUR
    Date
    Year
    1967/08/01
    2018/01/01
    2018/03/08 13:52:57
    One single general rate applicable on all income sources
    Different rates per income source

    Contact information

    Administration

    Service

    Website

    E-mail

    Telephone

    Who sets

    The tax rate is set by

    • Central authority
    • Regional authority
    • Local authority
    • Social security

    The tax base is set by

    • Central authority
    • Regional authority
    • Local authority
    • Social security

    The reliefs are set by

    • Central authority
    • Regional authority
    • Local authority
    • Social security

    Beneficiary

    • Central authority
    • Regional authority
    • Local authority
    • Social security
    • Others

    Geographical Scope

    CY - Cyprus
    Goverment controlled area of Cyprus.
    No Yes

    Taxpayers

    Who is liable for Social Security Contributions for employees?

    • Employer
    • Employee
    • Other:

    Coverage

    Employees pay social security contributions for:

    • Pension
    • Health care
    • Unemployment
    • Child care
    • Work-realted illneseses and/or accidents
    • Educational leave
    • Maternity leave
    • Others:

    Basis of assessment

    As a general rule, the employee's income subject to Social Security Contributions includes:

    • Employment income
    • Income from business or self-employed activities
    • Income from sport and entertainment activities
    • Benefits in kind
    • Company car
    • Low-interest loans
    • Stock options
    • Meal, sport, cultural cheques
    • Health insurance
    • Computer and IT services
    • Phone and telecommunications services
    • Parking
    • Public transport
    • Day-care for children
    • Meals at cantine
    • Accommodation
    • Income from pension
    • Owner-occupied immovable property
    • Dividends
    • Interests from government bonds
    • Interests from corporate bonds
    • Interests from special savings accounts
    • Interests from deposits
    • Royalties
    • Income from renting immovable property
    • Income from renting movable property
    • Capital gains on movable property
    • Inheritance
    • Annuities from life insurance
    • Prizes and awards
    • Scholarships
    • Income from occasional activities
    • Revenues from donations and gifts
    • Revenues from lotteries and games activities

    Income considered

    Domestic income
    Worldwide income

    Domestic-source income of non-residents is:

    Subject to Social Security Contributions
    Not subject to Social Security Contributions

    Bases and rates of social security contributions paid on the income of employees and manual workers

    • Rates are identical
    • Bases are identical

    Rate or Amount of the contribution

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Pension

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Health care

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Unemployment

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Child care

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Work-related illnesses and/or accidents

    Education leave

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Maternity leave

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Others

    Rate/amount for Social Security Contributions paid by employees

    Capped contributions

    • No cap
    • Cap in % of the tax base :
    • Cap in monetary units :
    • Multiple caps :

    Surcharge

    • A % of the tax base :
    • A lump-sum amount :
    • A tax surcharge :

    Reduction, Allowances, Credits

    Reduction :

    • No reduction
    • A lump-sum amount
    • A % of the tax base :
    • Based on salary
    • Capped

    Allowances :

    Credits :


    Tax due date

    Payment of Social Security Contributions

    Monthly
    Quarterly
    Annually
    Other

    Tax collector

    General comments

    Economic function

    • Consumption
    • Labour Employed (paid by employers and employees)
    • Labour Non-employed
    • Capital income: corporations
    • Capital income: income of households
    • Capital income: income of self-employed
    • Capital stocks

    Environmental taxes

    • Energy
    • Transport
    • Pollution/resources

    Tax revenue

    Part of d611
    Year Annual tax revenue (in millions) % of GDP % of total tax revenue -
    2017
    80.23
    0.4099 %
    1.2066 %
    2016
    68.02
    0.3679 %
    1.1167 %
    2015
    64.83
    0.3653 %
    1.0985 %
    2014
    63.39
    0.36 %
    1.078 %
    2013
    67.82
    0.3739 %
    1.1837 %
    2012
    85.58
    0.4391 %
    1.3878 %
    2011
    97.05
    0.4919 %
    1.544 %
    2010
    100.89
    0.5228 %
    1.6373 %
    2009
    100.4
    0.5377 %
    1.6911 %
    2008
    98.5
    0.5183 %
    1.4912 %
    2007
    85.6
    0.4866 %
    1.3489 %
    2006
    75
    0.4611 %
    1.4375 %
    2005
    68.3
    0.4541 %
    1.4474 %
    2004
    66.5
    0.4771 %
    1.6199 %
    2003
    54.2
    0.4211 %
    1.4618 %
    2002
    44.4
    0.3675 %
    1.3124 %
    2001
    43.6
    0.3758 %
    1.3404 %
    2000
    38.3
    0.3545 %
    1.2986 %

    Footnotes