As from 1 March 2019 Contributions on National Health Insurance System:
The General Healthcare System Law of 2001
(''GHS''), as amended, will come into effect in 2019 as from 01 March 2019.
Individuals, employers and the government will contribute to the GHS.
As per the
Law, from 01 March 2019 until 28 February 2020, the contributions are set at
1,70% for employees and pensioners, 1,85% for employers, 1,65% for the
government, and 2,55% for self-employed individuals.
From 1 March 2020 onwards, the
contributions will increase to 2,65% for employees and pensioners, 2,90% for
employers, 4,70% for the government and 4% for self-employed.
Below, we sumarise, the relevant
contributions per category:
|
|
|
From |
From |
|
Category |
Sources
of Income |
1/3/2019 |
1/3/2020 |
(a) |
Employees |
Emoluments |
1,70% |
2,65% |
(b) |
Employers |
Employees' emoluments |
1,85% |
2,90% |
(c) |
Self-Employed |
Own Income |
2,55% |
4,00% |
(d) |
Pensioners |
Pension |
1,70% |
2,65% |
(e) |
Persons holding an office |
Officers' Remuneration |
1,70% |
2,65% |
(f) |
Republic of
Cyprus or Natural/ Legal person responsible for the remuneration of persons
holding an office |
Officers' Remuneration |
1,85% |
2,90% |
(g) |
Persons
earning rental, interest, dividend and other income |
Rent, interest and dividend |
1,70% |
2,65% |
(h) |
Republic's Consolidated Fund |
Emoluments/pensions
of persons in (i), (iii), (iv) and (v) |
1,65% |
4,70% |
Note: As per the Law the relevant contributions will be deducted from the entire earnings of the individuals (including dividends, interest and rental income) with a maximum cap of EUR180.000, per year.
For more information or clarifications required contact us at: info@oxilium.com.cy