Tax Updates

Extension of the deadline for the submission of the 2019 Corporate Income Tax return (IR4) and the 2019 Personal Income Tax return (IR1A) of individuals preparing audited financial statements (FS) Extended Deadline 30 November 2021 In accordance with the amendment of the Assessment and Collection of Taxes law published on 24 September 2021, the following deadlines are extended to 30 November 2021: Electronic [...]

Extension of 2020 Personal Income Tax form submission and final tax payment deadlines In accordance with the amendment of the Assessment and Collection of Taxes law published on 30 July 2021, the 2020 Income tax form and 2020 final tax payment are extended as below: Employees and Pensioners: Electronic submission and payment of the final tax of the 2020 personal income tax return [...]

Exemption from the obligation to submit a personal income tax return for the tax year 2020 for individuals with annual gross income below €19,500 As revised with the Decree issued by the Council of Ministers on 9 July 2021, Cyprus taxed individual with annual gross income below €19,500 are exempted from the obligation to submit a personal income tax return for tax [...]

First Provisional Tax / Temporary Tax Assessment for 2021 Deadline 31/07/2021 First Provisional Tax for 2021 The 1st temporary tax return for 2021 must be submitted and the corresponding tax to be paid by the 31st of July 2021. Introduction to temporary tax assessments Cyprus Companies and Self-employed individuals must submit their 1st and 2nd temporary tax (provisional tax) returns before the [...]

Extension of 2020 IR1, IR4 & IR7 Forms Submissions Revised deadline 30 September 2021 UPDATE: Submission of IR1 extended to 30 November 2021. Click for more details. In accordance with the amendment of the Assessment and Collection of Taxes law published on 20 April 2021, which was driven by the to the prolonged crisis and the adverse economic conditions caused by COVID-19, [...]

Tax Update – Tax DeadlinesUpcoming Tax Deadlines Income Tax Return 2019 for individuals - deadline 31/10/2020 Annual Levy 2020 - deadline 31/12/2020   1.  Income Tax Return 2019 Individual resident in Cyprus are liable to income tax in accordance with the Income Tax Law  in respect of their worldwide income. An individual is resident in Cyprus, if he/she resides therein for a period or more which in aggregate exceed 183 days. Non- tax [...]