• About Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ
  • Contact Us
Login | My Posts
Accountants in Cyprus
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
Accountants in Cyprus
No Result
View All Result
Home Publications News & Announcements

Cyprus: Minimum wage at 940 euros per month

September 10, 2022
in News & Announcements
Reading Time: 1 min read

By: P. Constantinou & Co Ltd

September 2022: The Cyprus Minister of Labour and Social Insurance, announced yesterday (31/8/2022) the establishment of the National Minimum Wage after the meeting of the Council of Ministers.

The Cyprus National Minimum Wage is set at 940 euros. For new employees, for the first six months of employment, it will be set at 885 euros (both gross). The implementation of the National Minimum Wage will begin on 1 January 2023, with a transition period available to allow for the economy and employers to adjust to this increase.

It is estimated that at least 40 thousand employees (40,000) in Cyprus will benefit from this legislation with an increase, in some cases, of up to 30% of the salary they were receiving up to now.

The exemptions

The introduction of the minimum wage also includes some sector exceptions. These include, mainly, professions related to shipping, domestic workers and farming and livestock workers. Persons receiving training for a degree or professional qualification are also excluded.

If an employer provides food and/or accommodation, it will be possible, by an agreement between the parties, to deduct from the salary 15% for food and 10% for accommodation.

The minimum wage will be revised by a newly appointed committee every 2 years and further clarifications are expected regarding the total of working hours, overtime pay and other details.

For further information, interested parties can contact our firm and our social insurance & payroll team >

Share2Tweet2Share
Previous Post

Graduate Trainee Accountants (ACCA/ACA) – Limassol & Paphos

Next Post

RSM Cyprus proudly announces the appointment of Marios Charalambides as Partner and Head of Financial Services

Next Post
RSM Cyprus proudly announces the appointment of Marios Charalambides as Partner and Head of Financial Services

RSM Cyprus proudly announces the appointment of Marios Charalambides as Partner and Head of Financial Services

Newsletter

Latest News

tax debts paid through internet banking
News & Announcements

Tax debts arising after a tax notice, ONLY paid through Internet banking

January 27, 2023

By: Conficta Services Ltd The Tax Department reminds that the payment of tax debts arising after a tax notice has...

Read more
New Cyprus minimum wage

The new Cyprus minimum wage is now a fact

January 27, 2023
CoreSIBe plan

Use our CoReSIBe plan and start a better 2023!!

January 27, 2023

Accountants in Cyprus is an accounting portal that consists of information in the field of finance and a network of Cyprus accounting firms and other financial service providers .

USEFUL LINKS

  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos
Menu
  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos

USEFUL LINKS

  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms
Menu
  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms

AFFILIATED SITES

logo-lawyers-in-cyprus
lawyers-malta
2022 © Accountants in Cyprus. All Rights Reserved. Developed by Wizzweb
  • About
  • Cyprus Accounting Services
  • Auditors in Cyprus
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Accountants Cyprus
    • Cyprus Economy
  • Find Accountants
  • Contact Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ

© 2023 Accountant in Cyprus

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.