Factsheet for case CY-2020-14/412 – measures in Cyprus
|Country||Cyprus , applies nationwide|
|Time period||Temporary, 31 March 2020 – 14 April 2020|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Deferral of payments or liabilities
|Author||Loucas Antoniou (INEK) and Eurofound|
|Case created||09 April 2020 (updated 06 May 2020)|
The measure is taken in order to keep local businesses afloat due to the corona crisis and is provided in the Law 27(1) 2020 'Emergency Measures taken by the Ministry of Labour, Welfare and Social Insurances for the Confrontation of the Pandemic of Coronavirus COVID 19'.
The measure provides an extension for the payment of social insurances in order to support businesses and employers during the course of the pandemic crisis that hit the country.
All businesses and self-employed workers that cannot afford to pay the owed payments due to the crisis to the Social Insurance Funds of March 2020, including the payments in accordance with the (1) Social Insurances Law, (2) the General Healthcare System Law, (3) the Paid Annual Leave Law, (4) the Termination of Employment Law and (5) the Social Cohesion Law are eligible to make use of the extension of the period.
The final deadline for the payment is 14 April 2020. After this date, payments fall due and the law provides for additional fees and/or burden of the due payments in accordance with the respective laws as above.
Currently there is no available information on the use of the measure by beneficiaries.
||Applies to all businesses||Does not apply to citizens|
Social partners jointly
No special funding required
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||Agreed (outcome) incl. social partner initiative||Agreed (outcome) incl. social partner initiative|
|Form||Direct consultation outside a formal body||Direct consultation outside a formal body|
Social partners' role in the implementation, monitoring and assessment phase:
The government has consulted the social partners - trade unions, employers' organizations and political parties - and the outcome emerged is on an agreed base.
Eurofound (2020), Extension period for the payment of social insurances , case CY-2020-14/412 (measures in Cyprus), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.