05/01/2024
The below dates are important deadlines regarding submissions of tax forms and various payments such us PAYE, GHS, income and provisional tax, and more. Noting that these deadlines may be extended by relevant authorities in Cyprus.
- End of following month
Ø Payment of tax deducted from employees emoluments (PAYE) in the preceding month – form: T.D.61
Ø Payment of social insurance and General Healthcare System contributions deducted from employees emoluments – forms: T.D.603, T.D.602, T.D.614
Ø Payment of tax withheld on payments to non-Cyprus residents – form: T.D.11
- 31st January
Submission of declaration of deemed dividend distribution for the year ended 31 December two years ago – form: T.D.623
- 31st March
Electronic submission of income tax return for the year prior to the previous year by companies and by individuals preparing audited financial statements – forms: T.D.4, T.D.1
- 31st May
Electronic submission of employers return for the previous year – form: T.D.7
- 30th June
Payment of special contribution for defence on rents (if such tax is not withheld at source by the tenant) and on interest and dividends from sources outside Cyprus for the first six months of the current year – form: T.D.601
- 31st July
Ø Electronic submission of personal income tax return and payment of any outstanding tax for the previous year by employees and pensioners – form: T.D.1
Ø Electronic submission of personal income tax return and payment of any outstanding tax for the previous year by self-employed individuals who do not submit audited accounts but are obliged to issue invoices, receipts, etc. – form: T.D.1
Ø Submission of the provisional tax return and payment of the first instalment of the temporary tax for the current year – form: T.D.6
- 1st August
Payment of the final tax liability for the previous year using the self-assessment method by companies and individuals preparing audited financial statements – form: T.D.158
- 31st December
Ø Payment of the second and last instalment of the temporary tax for the current year
Ø Payment of special contribution for defence on rents (if such tax is not withheld at source by the tenant) and on interest and dividends from sources outside Cyprus for the last six months of the current year – form: T.D.601
Ø Submission of revised temporary tax assessment for the current year, if considered necessary – form: T.D.6
Interest and Penalties:
The official interest rate for late payments is 5% per annum for all amounts due after 1 January 2024 (2,25% for 2023, 1,75% for 2020–2022, 2% for 2019, 3,5% for 2017 and 2018, 4% for 2015 and 2016, 4,5% for 2014, 4,75% for 2013, 5% for 2011 and 2012, 5,35% for the year 2010, 8% for the years 2007-2009). In addition to the interest, a penalty is also charged depending on the circumstances.