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ARTICLE · 01 JULY 2021

Τhe Settlement Of Overdue Social Contribution Law

We note that the overdue contributions can be settled in 54 monthly instalments.

CyprusInsurance

Following our alert isued on 20 May 2021, we note that the Minister of Labour, Welfare and Social Insurance, exercising the powers conferred to her by the relevant law, issued two Administrative Decrees (No. 212/2021 and No. 213/2021), which were published on 21 May 2020 in the Official Gazette of the Republic.

Administrative Decree No. 212/2021

As per the decree 212/2021, the Minister of Labour, Welfare and Social Insurance announces that the Settlement of Overdue Social Contribution Laws 2016 – 2021 ("the Law") will apply to liabilities relating to the following:

i.  in relation to employers, it includes overdue contributions up until March 2021 (inclusive), which are payable by the end of April 2021;

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