As an act for the support of businesses and labor due to Coronavirus effects on Cyprus economy, the Ministry of Labor and Social Insurance has announced on the 6th of April 2020 the extension of the contributions payment for February 2020. Read below the points announced by the ministry.
The social contributions for February 2020, that were payable until 31st of March 2020, have now a new submission date and is the 14th of April 2020.
The above contributions will not be considered overdue, thus no additional fee of fine will be applied to employers or individuals that submit their amount of contributions up to 14th of April.
In the case that the above-mentioned contributions are not paid until the new due date, then are automatically considered overdue and the related fines will be applied according to the legislation as from 15th April and on.
In the case that the contributions have already been submitted to the department with additional fines and charges due to delays, they will be considered over payments and will be credited to the the employer or individual on the future contributions.