Amendment to the law on the settlement of overdue social contributions – Emploi et RH



Cyprus: Amendment to the law on the settlement of overdue social contributions

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On May 11, 2021, the law on the settlement of overdue social contributions (amending) (N.2) (N.102 (I) / 2021) was published in the Official Journal of the Republic.

The purpose of the amending law is to amend article 2 of the law so that overdue contributions subject to regulation include, in addition to contributions payable in accordance with the law on social insurance, the law on paid annual leave, the law on dismissal, the law on the Social Cohesion Fund, the fee due in accordance with Article 20 of the Law on Human Resources Development and contributions payable in accordance with the General Law on the Health System.

In addition, article 5 of the law is now entitled; “Submitting a claim for settlement of a liability” and provides as follows:

1) Individuals and companies, who wish to pay their overdue social contributions, can submit a request, in the form that the Minister will define by a notification which will be published in the Official Journal of the Republic, within four months from of the date of such publication.

2) Individuals and companies who have an arrears of social contributions which is not settled by the date, which is fixed by the Minister by way of notification, have the right to submit a request in order to settle their arrears of contributions. social.

The law expressly provides that the following cases cannot be the subject of new regulations:

a) natural persons or companies whose social contributions are overdue and which have been regulated and then canceled and for which a complaint is pending with the Minister or for which the time limit for complaint has not expired.

b) natural persons or companies, who receive the Guaranteed Minimum Income or Public Assistance, and for whom the overdue social contributions were regulated on the date of publication of the Minister’s opinion. Independently of the provisions of paragraph a) above, social contributions due for the contribution periods which were regulated may be included in a new regulation.

c) The regulations apply to social contributions due on the date preceding the date specified by the Minister by way of notification.

EY Cyprus is at your disposal for any information or clarification you may require.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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