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ACCOUNTING . AUDIT . TAX ADVISORY
COMPLIANCE . NON-DOMICILE . ASSURANCE
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CYPRUS TAX CALENDAR

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Cyprus tax calendar and deadlines

Below are the key dates in the Cyprus Tax Calendar. This information is subject to change by the Cyprus Tax authorities and is not intended to substitute for professional advice and specialized solutions applicable to your legal and tax status.

TAX DUE DATES AT END OF EACH MONTH

  • PAYE for employees deducted from salaries relating to the previous month.

  • Payment of tax withheld on payments made to non-Cyprus tax residents during the previous month.

  • Social insurance and General Healthcare Contributions relating to salaries of the previous month.

  • Special Contribution for Defence to be withheld from Cyprus sourced dividends and interest for tax resident and domiciled individuals relating to previous month.

  • General Healthcare Contributions to be withheld from Cyprus sourced dividends and interest for tax resident individuals relating to previous month

  • Special Contribution for Defence to be withheld from Cyprus sourced rent paid to tax resident and domiciled individuals (when tenant is a company, partnership, the state or local authority) relating to previous month

  • General Healthcare Contributions to be withheld from Cyprus-sourced rent paid to tax resident individuals (when tenant is a company, partnership, the state or local authority) relating to previous month

  • Submission of TD602 – Declaration of withheld Special Contribution for Defence and National Health Contribution from Interest relating to previous month

  • Submission of TD603 – Declaration of withheld Special Contribution for Defence and National Health Contribution from Dividends relating to previous month

WITHIN 30 DAYS OF THE DATE OF AGREEMENT

  • Payment of stamp duty


WITHIN 60 DAYS FROM THE DATE OF CHANGE

  • Notification to the Tax Department of changes to the information submitted upon tax registration


BY 31 JANUARY EVERY YEAR

  • Submission of the deemed distribution declaration (TD 623) for the previous year 


BY 28 FEBRUARY EVERY YEAR

  • Submission of objections relating to tax assessments issued during previous year


By 31 MARCH EVERY YEAR

  • Submission of the corporation income tax return (TD4).

  • Submission of the income tax return (TD1) for individuals preparing audited financial statements


BY 30 APRIL EVERY YEAR

  • Payment of the first installment of premium tax for life insurance companies


BY 31 MAY EVERY YEAR

  • Electronic submission of the employer’s return (TD7)


BY 30 JUNE EVERY YEAR

  • Payment of the Special Defence Contribution on rents, dividends or interest under self-assessment from sources outside Cyprus

  • Payment of the General Healthcare Contributions (GESY) on rents, dividends or interest under self-assessment

  • Payment of the Annual Levy of €350 for the previous year


BY 31 JULY EVERY YEAR

  • Payment of the personal income tax and General Healthcare Contributions under a self-assessment method by individuals not preparing audited financial statements (employees and self-employed)

  • Submission of personal income tax return (TD1) for self-employed and employees

  • Submission of temporary tax assessment and payment of the first installment for both individuals and companies


BY 1 AUGUST EVERY YEAR

  • Settlement of final corporation tax and personal income tax for individuals preparing audited accounts


BY 31 AUGUST EVERY YEAR

  • Payment of the second installment of premium tax for life insurance companies


BY 31 DECEMBER EVERY YEAR

  • Payment of second and last temporary corporate tax installment

  • Submission of the revised provisional tax return

  • Payment of the Special Contribution for Defence on rents, dividends or interest from sources outside Cyprus for the second 6 months

  • Payment of the General Healthcare Contributions on rents, dividends or interest under self-assessment, for the second 6 months

  • Payment of the third installment of premium tax for life insurance companies.

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NOTES FOR CYPRUS TAX CALENDAR
 
  • The Cyprus tax year coincides with the calendar year, 1 January – 31 December. So the 2023 tax year begins on 1 January 2023 and ends on 31 December 2023
  • Personal income tax returns can only be submitted electronically.
  • From tax year 2016 onwards, a revised tax return can be submitted within three years from the submission deadline of the relevant tax return.
  • From the tax year 2021 onwards, all individuals with a gross income that falls under the provisions of Article 5 of the Income Tax Law are obliged to submit a personal income tax return.
  • Gross income that falls under the provisions of Article 5 of the Income Tax Law includes, amongst others, salaries, rents, royalties, pensions, dividends, interest and profits from share dealings (before any deductions, reliefs and credits) which may be exempt from the income tax and/or special contribution for defence. The Council of Ministers is also empowered to issue decrees, which will specify which categories of taxpayers with a total annual gross income below the taxable threshold of €19.500 will be exempted from the obligation to submit a tax return.
  • Until tax year 2020, individuals with gross income not exceeding €19.500 (tax-free threshold) were not obliged to submit a personal income tax return, unless they received a notice/request for submission
  • In cases where the deadline for the submission of a tax return or payment of a tax or other liability falls on a Saturday or Sunday or Public holiday, the deadline for complying with these obligations is extended until the next business day.

Relikor Serv Ltd, in cooperation with tax consultants, provides customized tax advisory to Cypriot and overseas individuals and legal entities. Please contact us for a private and confidential consultation to discuss how we can help you with tax obligations and compliance issues.

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