Claim for Allowances form T.D.59 for 2024

The Tax Department has issued the Claim for Allowances form T.D.59 for the tax year 2024.

Employers are required to distribute this form to all their employees, who have to properly fill it out and return it signed back to the employer(s), before the first payroll of the year.

On this form, Cyprus tax resident employees should declare their worldwide income and deductions to be claimed, whereas non-Cyprus tax resident employees should declare just their Cyprus sourced income and their deductions relevant to that income.

Employers will then calculate the relevant Pay As You Earn (P.A.Y.E) to be withheld.

The signed forms T.D.59 should be retained by employers, in case these are requested by the Tax Department.

PGE&Co remains at your disposal for any clarifications and for further assistance that might be needed on this or on any other matter.