ARTICLE
26 February 2025

Securing A Tax Identification Number (T.I.N.) For Employees In Cyprus

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Eurofast

Contributor

Eurofast is a regional business advisory organisation employing local advisers in over 21 cities in South East Europe, Middle East & the Baltics. The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services.
Recent changes in Cyprus tax compliance require all employers to include their employees' Tax Identification Number (T.I.N.) when completing the monthly Employer's Tax Declaration...
Cyprus Tax

Recent changes in Cyprus tax compliance require all employers to include their employees' Tax Identification Number (T.I.N.) when completing the monthly Employer's Tax Declaration (T.D. 7) through the TFA portal. This update, effective from the 2024 tax year onwards, highlights the importance of ensuring that every employee has a valid T.I.N. to maintain compliance and avoid potential penalties.

Why is a T.I.N. Now Mandatory?

Under the updated tax regulations, employers must include each employee's T.I.N. when submitting the T.D. 7 form. This change aims to enhance transparency and streamline the tax reporting process. Employers who fail to provide this information may face compliance challenges, leading to delays and possible penalties.

How Eurofast Can Assist

If your employees do not yet have a T.I.N., Eurofast is ready to assist with the application process at a special discounted price of €70 + VAT (original price: €150 + VAT). Our team of experts offers:

  • Tailor-made solutions for tax filing and documentation
  • Compliance advisory services to minimize potential risks and penalties
  • Strategic assistance to help businesses meet tax deadlines effectively

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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