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31 January

• Submission of declaration of deemed dividend distribution (TD623) for the year ended 31 December 2021.

 

31 March

• Electronic submission of the 2022 corporation tax return (Form IR4) for accounting periods ending on 31 December 2021 (TD4).

• Electronic submission of the 2022 income tax return of physical persons (Form IR1) preparing audited financial statements (2).

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31 May ​

• Electronic submission of the 2023 Employer’s Return (Form IR7)

 

30 June​

• Payment of €350 Annual Levy for the year 2024

• SDC and GHS: Payment of Special Contribution for Defense (SDC) and General Health Contribution (GHS) for the first six months of 2024 on dividend or interest income from sources outside Cyprus, and on rental income if such tax is not withheld at source by tenant (Form IR601) as self-assessment.

 

31 July

• Electronic submission of the 2024 provisional tax return and payment of the first instalment of provisional tax by individuals and companies

• Electronic submission of the 2023 personal tax return (Form IR1) by individuals not preparing audited financial statements (employees and self-employed) and payment of the relevant income tax liability.

 

1 August

• Payment of 2023 final corporation tax under the self-assessment method.

• Payment of 2023 personal income tax under the self-assessment method by self-employed individuals preparing audited financial statements (2).

 

31 December

• Payment of the second and last instalment of provisional tax for 2024 by individuals and companies

• SDC and GHS: Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHS) for the last six months of 2024 on dividend or interest income from sources outside Cyprus, and on rental income if such tax is not withheld at source by tenant (Form IR601) as self-assessment.
   

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Penalties due by the end of each month

• PAYE: Payment of tax withheld from employees salary (PAYE) in the previous month

• SDC: Payment of Special Contribution for Defense withheld on payments of dividends, interest or rents (when the tenant is a Cyprus company, partnership, the state or local authority), made to Cyprus tax residents in the previous month

• SI and GHS: Payment of Social Insurance and General Healthcare System Contributions deducted from employees’ emoluments during the previous month

• VAT return submission and payment of VAT amount due by the 10th day of the second month after the end of the VAT period

• Intrastat form submission by the 10th of the month following the end of the VAT period

• VIES form submission for goods and services by the 15th of the month following the end of the reporting month

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Penalties

An administrative penalty of up to €200 (depending on the specific case) is imposed for the late submission of either a tax return or supporting documentation requested by the Tax Commissioner.

In case of late payment of tax due, a penalty of 5% is imposed on the tax amount due. An additional penalty of 5% is imposed if the tax remains unpaid 2 months after the payment deadline.

For late payment of taxes, the official interest rate, as set by the Finance Minister, for all amounts due as from 1 January 2024 is (2,25% for 2023, 1,75% for 2022, 2021 and 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% up to 31 December 2006).

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