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Tax Authority to Administer Refunds on Excess Healthcare Contributions Over €180,000

Overview Of The New Refund Process

The Health Insurance Organization (OAY) has announced that any contributions exceeding €180,000 paid into the General Healthcare System Fund (ΓΕΣΥ) for contribution years commencing on or after January 1, 2025 will be refunded directly by the Tax Office, in accordance with the Tax Confirmation and Collection Law. This marks a significant shift in the administrative process, transferring responsibility from OAY to the Tax Office for these specific cases.

Refund Procedures And Guidelines

For contributions pertaining to the year that ends on or before December 31, 2024, the refund process will continue to be handled by OAY based on the existing decisions on refunds for amounts exceeding the maximum contributions.

Extended Submission Period Under Revised Regulations

The announcement further clarifies that, in light of the amendments detailed in the 2025 decisions published in the Official Gazette on September 5, 2025, the deadline for submitting refund requests to OAY has been extended. Specifically, each refund claim must now be submitted within six years after the conclusion of the contribution year in question.

Accessing The New Refund Form

Interested parties seeking to file a refund claim for contributions exceeding €180,000 can obtain the new form directly from the OAY website under the GEΣΥ/Financial and General Accounting section. Detailed instructions and a direct hyperlink are provided for ease of access.

Implications For Contributors

This regulatory update streamlines the refund process and reinforces a robust oversight mechanism in line with current fiscal policies. Organizations and individuals alike should note these changes to ensure compliance and timely submission of claims, thereby avoiding any potential administrative delays.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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