Please note that the deadlines stipulated below may be revised as part of Cyprus’ economic response to covid-19. Taxpayers are recommended to monitor developments.

End of each month

  • Payment of tax deducted from employee’s salary (P.A.Y.E.) in the preceding month.
  • Social Insurance and General Healthcare contribution (GHS) regarding the salaries of the preceding month.
  • Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents and domicile individuals in the preceding month.
  • Payment of General Health contributions withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents individuals in the preceding month.
  • Payment of tax withheld in the preceding month on payments to non-Cyprus residents.

31 January

  • Payment of special defence and general health contribution on any undistributed profits up to 70% of a company’s profits of year 2018. Submission of the TD623 for the year ended 31 December 2018.
  • DAC6 Reporting deadline (through Ariadni Portal) for reportable Cross border Arrangements (RCBA’s) made within the second semester of 2020.

28 February

  • Submission of the objections issued in December 2020
  • DAC6 Reporting deadline (through Ariadni Portal) for historic RCBAs (fist implemented within 25/06/2018 and 30/06/2020

31 March

  • Electronic submission of a company’s income tax return (T.D.4) for the year 2019
  • Electronic submission of the income tax return (T.D. 1) of physical persons preparing audited financial statements for the year 2019.

30 April

  • Payment of premium tax for life insurance companies – 1st instalment of the year 2021

31 May

  • Electronic Submission of the employer’s return for 2020 (T.D.7)

30 June

  • Payment of special contribution for defence and GHS for the first six months of 2021 on rents if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus.
  • Payment of Annual Levy fee of €350 for the year 2021

31 July

  • Payment of the 1st temporary tax instalment of the year 2021.
  • Payment of the 2020 personal income tax and GHS contribution under a self-assessment method by individuals not preparing audited financial statements (employees and self-employed)
  • Electronic submission of income tax return (T.D. 1) for 2020 for both for both self-employed and employees, who have gross income that falls under Article 5 (includes dividends, interest and profits from share dealings and who are not obliged to prepare audited financial statements

1 August

  • Payment of the 2020 final corporation tax under the self-assessment method
  • Payment of 2020 personal income tax under the self-assessment method by self-employed individuals preparing audited financial statements.

31 August

  • Payment of premium tax for life insurance companies – 2nd instalment of the year 2021

31 December

  • Payment of the 2nd and last temporary tax instalment of the year 2021
  • Deadline for the submission of the 2021 revised provisional tax return 
  • Payment of special contribution for defence and GHS contribution for the last six months of the 2021 on rents if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus.
  • Payment of premium tax for life insurance companies – 3rd and last instalment of the current year.

Within 30 days from the agreement’s date 

  • Stamp duty payments 

Within 60 days from the date of change

  • The tax department must be notified for any changes arise after the submission.

Interest and Penalties

The official interest rate, as set by the Finance Minister, is 1,75% per annum for all amounts due after 1 January 2020 (2% for 2019, 3,5% for 2017-2018,4% for 2015-2016, 4,5% for 2014, 4,75% for 2013, 5% for years 2012 and 2011, 5,35% for the year 2010, 8% for the years 2007-2009 and 9% before 31 December 2006).

In addition to the interest, penalties are also charged depending on the circumstances.

Notes:

  • A physical person is obligated to submit audited financial statements if his/her turnover exceeds €70.000 annually.
  • The personal income tax returns can only be submitted electronically through Taxisnet. Manually submission is no longer permitted, except in cases of revised income tax returns.

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