The Ministry of Labour, Welfare and Social Insurance announces that the Regulation of Overdue Social Contributions (Amendment) (No.2) Law of 2021 (N.102(I)/2021) enter into force. Employers and self-employed persons who owe social contributions, both to the Social Insurance Fund and to the other funds responsible for collecting contributions, will be able to submit applications for repayment by instalments of overdue Social Contributions.

Applications have been posted on the social insurance services' website, and must be submitted electronically through the following link https://www.pay.sid.mlsi.gov.cy/LxpWeb/ by February 26, 2022.

Employers and self-employed may pay their debts maximum in 54 equal monthly instalments within the framework of the Arrangement. If they choose to pay in less than 54 instalments, they will benefit from a corresponding reduction in the additional fee, which can be up to 27%. In the event that the amount due is paid in a lump sum, they will be exempt from paying the full amount of the additional fee imposed.

Overdue debts are considered, for employers, debts up to and before March 2021, and for self-employed, debts up to and from the fourth quarter of 2020 (T4/2020).

At the same time, if debtors join the above arrangement and as long as it lasts, the Social Insurance Services will not proceed to take legal action against them and in case criminal charges have been drawn against them, they may be suspended with the approval of the Attorney General of the Republic. Also, for those that prisons or seizure warrants are pending against them, they may be suspended after the relevant actions of the Attorney General of the Republic.

For any information regarding the Arrangement, interested parties may contact the following telephone numbers: