Deadline for submission of certain Tax Forms on 31/03/2022
On 31 March 2022, the following tax forms are due for submission without the imposition of penalties:
Deemed Dividend Distribution for 2019 profits
Cyprus tax resident companies must declare at least 70% of their 2019 accounting profits by 31 December 2021 and pay the resulting special contribution for defence of 17% and National Health Contribution of 2,65% by 31 January 2022.
Deadline for revision of Provisional Taxes and payment of 2nd Instalment
The due date for revision of the provisional chargeable profit and provisional tax is before 31 December 2021.
No penalty of €100 for Tax returns submitted until 06.12.2021
Yesterday the Minister of Finance announced that there will be no imposition of the €100 penalty fee for tax returns that are submitted by Monday 06 December 2021.
Extension of 2019 Tax Return submission for Companies and Self-Employed Individuals
The deadline for the submission of the 2019 Tax Return for Companies (T.D.4) and Self-employed individuals who prepare audited financial statements (T.D.1A) has been extended to 30 November 2021.
Extension of 2020 Final Tax Payment for Companies and Self-Employed Individuals
The deadline for the final payment of the 2020 Tax Liability for Companies (T.D.4) and Self-employed individuals who prepare audited financial statements (T.D.1A) has been extended to 30 September 2021.
Submission of 2020 Tax Returns for Individuals
The deadline for the submission of the 2020 Tax Return (T.D.1) for Individuals whose gross income for the year exceed €19.500 and for Self-employed persons who DO NOT prepare audited financial statements has been set to 30 November 2021.
Provisional Taxes in Cyprus for Companies
In accordance with the Cyprus Income Tax Law, all companies with chargeable profit in a year are obliged to pay provisional tax.
Step by step approach on tax payments in Cyprus
In accordance with the Cyprus Assessment and Collection of Taxes Law, payments to the Commissioner of Taxation can be done via the following 2 methods: