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Cyprus > Administration and financing

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Country: Cyprus - Subject: Administration and financing

  1. Cyprus - Administration and financing - Law, Act

    Law N 76(I) of 2016 providing for the adjustment of the past-due social contributions. - Text in Greek

    Adoption: 2016-07-01 | Date of partial end of application: 2017-07-01 | CYP-2016-L-104708

    Article 1: Title of the Law
    Article 2: Definitions
    Article 3: Scope of Application
    Article 4: Prohibition to claim debts by judicial means
    Article 5: Adjustment petition
    Article 6: Examination and decision on the petition
    Article 7: Number of instalments and payment method for debts subject to the adjustment
    Article 8: Priority of payment
    Article 9: Effacement of due amounts from the additional fee
    Article 10: Consequences of breach of the adjustment conditions
    Article 11: Pending criminal or civil cases and adjudicated contributions
    Article 12: Beneficiary of the minimum guaranteed income or of the public benefit
    Article 13: Right to offset
    Article 14: Submission of pleas before the Minister
    Article 15: Delegation of authority of the Director
    Article 16: Power of the Minister to decide upon specific issues
    Article 17: Authorization by the Minister
    Article 18: Proof based on certificate
    Article 19: Settlements prior to the implementation of the present Law
    Article 20: Entry into force of the Law

  2. Cyprus - Administration and financing - Law, Act

    Law N 143(I) of 2015 amending the Law on the Establishment, Activities and Supervision of Funds for Occupational Retirement Provision (Amendment). - Text in Greek

    Adoption: 2015-10-09 | Date of entry into force: 2015-10-09 | CYP-2015-L-102366

    The present Law amends the Law on the Establishment, Activities and Supervision of Funds for Occupational Retirement Provision, for the purposes of harmonizing the national legislation:
    - with articles 1 and 4 of the European Parliament and Council Directive 2013/14/EU of 21 May 2013, amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of over-reliance on credit ratings;
    - and with article 62 and paragraphs 1, 2, 5 and 6 of article 66 of the European Parliament and Council Directive 2011/61/EU of 8 June 2011, on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) N 1060/2009 and (EU) N 1095/2010, as amended by the aforementioned Directive 2013/14/EU;
    as well as in view of regulating the sanctions imposition in case of omission or breach of the obligation of compliance with the provisions:
    - of paragraph 1 of article 4 and subparagraph (a) of paragraph 1 of article 5 of the European Parliament and Council Regulation (EC) N 1060/2009 of 16 September 2009, on credit rating agencies, as amended by the European Parliament and Council Directive 2014/51/EU of 16 April 2014;
    - and of the norms of the European Parliament and Council Regulation (EC) N 648/2012 of 4 July 2012, on OTC derivatives, central counterparties and trade repositories, as amended by the European Parliament and Council Regulation (EC) N 600/2014 of 15 May 2014.

    Article 2 of the present Law supplements 1st phrase of article 2, by adding the following new terms and definitions: "Regulation (EC) N 648/2012", "Regulation (EC) N 1060/2009" and "Directive 2011/61/EU".
    Article 3 supplements paragraph (b) of 1st phrase of article 3, by adding new subparagraph (iv), worded as follows: "of the Law on Alternative Investment Fund Managers, as amended or replaced".
    Article 4 supplements article 36, by adding, after 1st phrase, new phrase 1A, concerning the monitoring responsibilities of the tax collector with regard to the Funds.
    Article 5 replaces 1st phrase of article 38 with new one, regarding the appointment of investment managers in other Member States.
    Article 6 supplements article 44, by adding, after 3rd phrase, new phrase 3A, regarding the penalisation of the breach or omission of compliance with paragraph 1 of article 4 and subparagraph (a) of paragraph 1 of article 5 of the Regulation (EC) N 1060/2009 and with the norms of the Regulation (EC) N 648/2012.

  3. Cyprus - Administration and financing - Law, Act

    Law N 194(I) of 2014 amending the Law on Social Security (Amendment N 2). - Text in Greek

    Adoption: 2014-12-19 | CYP-2014-L-100743

    Amends the Laws N 59(I), 114(I) and 126(I) of 2010, 2(I), 37(I), 170(I) and 193(I) of 2012 and 106(I) of 2014 on Social Security, by adding new article 20A introducing a special provision which exempts from additional charges any delayed contributions for the months of 2014 which are to be paid out until 31 December 2014.

  4. Cyprus - Administration and financing - Law, Act

    Law N 106(I) of 2014 amending the Law on Social Security (Amendment). - Text in Greek

    Adoption: 2014-07-11 | CYP-2014-L-100697

    Amends the Laws N 59(I), 114(I) and 126(I) of 2010 and 2(I), 37(I), 170(I) and 193(I) of 2012 on Social Security, by adding new article 99 which introduces a Special Provision, worded as follows: "Irrespectively of the provisions of the 2nd phrase of article 73 of the present Law and following the provisions of the Regulation N 4 of the Regulations on Social Security (Fund Accounts), it shall be transferred from the Complementary Pensions Account to the Unemployment Allowances Account of the Fund, the amount of one hundred seventy million euros (170.000.000) for the purposes of covering up the deficit that the Unemployment Allowances Account produces for the years 2013 and 2014".

  5. Cyprus - Administration and financing - Law, Act

    Law N 183(I) of 2012 amending the Law on the Extraordinary Contribution of Employees, Pensioners and the Self-Employed of the Private Sector. - Text in Greek

    Adoption: 2012-12-21 | Date of entry into force: 2012-12-21 | Date of end of application: 2016-12-31 | CYP-2012-L-100084

    Amends Law N 202(I) of 2011 on the Extraordinary Contribution of Employees, Pensioners and the Self-Employed of the Private Sector. It specifically introduces amendments to:
    - article 4, concerning an obligation for payment of an extraordinary contribution form 1st January 2014 to 31st December 2016, incumbent upon employees, pensioners and the self-employed of the Private Sector and which in case of employees is equally shared by employers and employees.
    - article 5, concerning the duration of the adjustment.

  6. Cyprus - Administration and financing - Law, Act

    Law N 184(I) of 2012 amending the Law on the Extraordinary Contribution of Officials, Employees and Pensioners of the Public Service and of the broader Public Sector (Amendment N 2). - Text in Greek

    Adoption: 2012-12-21 | Date of entry into force: 2013-01-01 | Date of partial entry into force: 2013-01-01 | Date of partial entry into force: 2014-01-01 | Date of end of application: 2016-12-31 | Date of partial end of application: 2013-12-31 | CYP-2012-L-100092

    Amends Laws N 112(I) and 193(I) of 2011 and 74(I) of 2012 concerning an Extraordinary Contribution of Officials, Employees and Pensioners of the Public Service and of the broader Public Sector. It specifically amends article 3, introducing a deduction from the gross monthly emoluments of Officials and Employees and from the pensions of Pensioners as an extraordinary contribution, whose amount varies from the period of 1st January 2013 to 31st December 2013 and from 1st January 2014 to 31st December 2016.

  7. Cyprus - Administration and financing - Law, Act

    Law N 185(I) of 2012 amending the Law concerning the non-granting of accruals and index-increases to wages of Officials and Employees and to pensions of Pensioners of the Public Service and of the broader Public Sector (Amendment). - Text in Greek

    Adoption: 2012-12-21 | Date of entry into force: 2012-01-01 | Date of partial entry into force: 2012-01-01 | Date of partial entry into force: 2012-01-01 | Date of end of application: 2016-12-31 | Date of partial end of application: 2015-12-31 | Date of partial end of application: 2016-12-31 | CYP-2012-L-100093

    Amends Law N 192(I) of 2011 concerning the non-granting of accruals and index-increases to wages of Officials and Employees and to pensions of Pensioners of the Public Service and of the broader Public Sector. It introduces amendments to article 2, concerning the definition of "Private Sector" (article 2), and to article 3, replacing "2013" by "2016" (article 3). It adds new article 7A regarding the recognition of employment for the purposes of granting accruals to the teaching and academic personnel (article 4). It further amends article 8, concerning the index-readjustment of emoluments and pensions (article 5(a)), the non-granting of wage increase for 2012 and the readjustment of the wage increase for 2017 (article 5(b)), as well as article 10, concerning the partial entry into force of the Law (article 6).

  8. Cyprus - Administration and financing - Law, Act

    Law N 170(I) of 2012 amending Laws N 59(I), 114(I) and 126(I) of 2010, 2(I) and 37(I) of 2012 on Social Security (Amendment N3). - Text in Greek

    Adoption: 2012-12-07 | CYP-2012-L-100078

    Settles the carrying forward of an amount from the Complementary Pensions Account for the benefit of the Unemployment Benefits Account.

  9. Cyprus - Administration and financing - Law, Act

    Law N 74(I) of 2012 amending Laws N 112(I) and 193(I) of 2011 concerning the Extraordinary Contribution of Officials, Employees and Pensioners of the Public Service and of the broader Public Sector (Amendment). - Text in Greek

    Adoption: 2012-06-15 | Date of entry into force: 2012-07-01 | CYP-2012-L-100070

    Amends article 3 of the Laws N 112(I) and 193(I) of 2011, by replacing the existing reservation related to the deduction of a specific percentage from the monthly gross pay of Officials, Employees and Pensioners of the Public Service and of the broader Public Sector.

  10. Cyprus - Administration and financing - Law, Act

    Law No. 86(I) of 2010 - Compulsory Insurance for Employers' Liability (Amendment) Act 2010. (Υποχρεωτικής Ασφάλισης της Ευθύνης των Εργοδοτών (Τροποποιητικός) Νόμος του 2010) - Cyprus Gazette on-line

    Adoption: 2010-07-23 | Date of entry into force: 2010-07-23 | CYP-2010-L-86429

    It amends the following articles of the Compulsory Insurance for Employers' Liability Act (1989-2003):
    - article 9: replaces the phrase "seven (7) days" in the paragraph a of section 2 with the phrase "fourteen (14) days", replacing the phrase "seven (7) days" in the section 3 with the phrase "fourteen (14) days".
    - article 19: replaces the phrase "2 years" with the phrase "three (3) years".

  11. Cyprus - Administration and financing - Law, Act

    Law No. 23(I)/1995 to amend all laws on the Treasury of Care (Provision).

    Adoption: 1995-03-17 | Date of entry into force: 1995-03-17 | CYP-1995-L-40625

    Amending article 21: any gain from the Treasury of Care is not seized according to the Civil Procedures Law 228/1989. Amending article 29: in the event of employer's conviction for non payment of contributions to the Treasury of Care, the employer is obliged to pay to the Treasury the amount neglected.

  12. Cyprus - Administration and financing - Regulation, Decree, Ordinance

    Social Insurance (Contributions) Regulations, as amended to 1987.

    Adoption: 1980-10-06 | Date of entry into force: 1980-10-O6 | CYP-1980-R-7286

  13. Cyprus - Administration and financing - Regulation, Decree, Ordinance

    Social Insurance (Contributions) (Special) Regulations.

    Adoption: 1980-10-06 | Date of entry into force: 1980-10-06 | CYP-1980-R-7291


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