Tax Updates

Social Insurance Contributions – Updates Effective 1 January 2026 Social Insurance Contributions – Updates Effective 1 January 2026 As part of the annual adjustments to the Cyprus social insurance framework, the maximum insurable earnings threshold has been revised upward for 2026. Revised Maximum Insurable Earnings Effective from 1 January 2026, the maximum amount subject to social insurance contributions increases to: €68,904 per annum [...]

Deemed Dividend Distribution for 2025 Deadline 31/01/2026 Deemed Dividend Distribution (DDD) – Key Obligations for 2025 Cyprus tax resident companies with accounting profits for the tax year 2023 that fall within the Deemed Dividend Distribution (DDD) provisions must ensure that at least 70% of their after-tax accounting profits are distributed by 31 December 2025. Where applicable, the related Special Contribution for Defence [...]

Extended Deadline for TD4 & TD1 (with Accounts) Submissions for 2023 and 2024 Deadlines extended to 2026 The Tax Department has officially extended key income tax filing deadlines. Businesses and individuals preparing financial statements should recalibrate their compliance timelines accordingly. New Submission Deadlines 2023 Income Tax Return (T.D.4 / T.D.1 with FS)Extended to 31 March 2026. 2024 Income Tax Return (T.D.4 / [...]

Introduction For businesses operating in Cyprus, compliance with tax regulations is a critical part of financial management and corporate governance. With ongoing changes in accounting laws, new audit updates, and evolving Cyprus financial regulations, 2025 brings a renewed focus on maintaining accuracy and transparency in reporting. The Cyprus tax compliance guide for 2025 provides a clear framework for businesses to follow. From understanding VAT obligations to preparing accurate financial statements, companies must adopt [...]

Temporary Tax 1st Instalment Deadline 31 July 2025 First Provisional Tax for 2025 The first temporary tax return for 2025 must be submitted and the corresponding tax to be paid by the 31st of July 2025. 1. Introduction to temporary tax assessments 1.1. Applicable to: Cyprus Companies with taxable income Individuals with taxable income other than salaries, pensions, dividends and interest 1.2. [...]

Personal Income Tax Return 2024 Deadline 31 July 2025 Start of Submission for the 2024 Personal Income Tax Return The Cyprus Tax Department has announced that the Personal Income Tax Return (Form T.D.1) for the tax year 2024 is now available for electronic submission through the TAXISnet portal: https://taxisnet.mof.gov.cy 🔹 Who is required to file?Employees, pensioners, and self-employed individuals whose gross annual [...]

Extended Deadline for TD4 & TD1 (with Accounts) Submissions for 2023 Deadline 30 June 2025 The Cyprus Tax Department has announced an extension for the submission of corporate income tax returns (TD4) and self-employed tax returns with audited financial statements (TD1 with Accounts) for the tax year 2023. This update is crucial for businesses and self-employed individuals who must comply with tax [...]

The Future of Accounting Services in Cyprus: Trends You Should Know The world of accounting services in Cyprus is evolving rapidly. With new technologies and changing economic landscapes, businesses need to stay ahead of the curve to ensure financial success. In this article, we'll explore key trends shaping the future of accounting services in Cyprus and how companies like Evidentrust are leading the charge. The [...]

Why Cyprus is the Ideal Location for Professional Accounting Services Cyprus, with its strategic location, business-friendly environment, and highly skilled workforce, has become a prime destination for professional accounting services. In this article, we'll explore why businesses and individuals looking for accounting services should consider Cyprus, and how Evidentrust provides top-tier solutions for accounting and financial management. The Business Benefits of Cyprus as an Accounting [...]

Cyprus Tax Reform: Key Proposed Changes On 26 February 2025, the Cyprus Tax Reform Team, led by the Economics Research Centre of the University of Cyprus, presented its proposals for a long-anticipated tax reform at the Presidential Palace. These proposals aim to modernize Cyprus’s tax framework, encourage economic growth, and align with international tax standards. The proposed changes are set for public consultation [...]