2nd Provisional Tax / Temporary Tax 2020 Cyprus Provisional Tax Calculation 2nd Self Assessment 2020 Temporary tax assessments Taxpayers must submit their 1st and 2nd temporary tax return before the 31st of July and 31st of December of each year, respectively, based on their estimated current year’s taxable income and pay the corresponding temporary tax. The temporary tax payments must be made [...]
Extension of Income Tax Form Deadline for 2019 Cyprus Tax Update Tax Update The Tax department announced today (20/10/2020) that the deadline for submitting the electronic income declaration for 2019 for employees and self-employed (Form IR.1 employee), whose gross income exceeds €19,500, as well as the payment of the final tax due according to their income tax form (self-assessment) for 2019, is [...]
Easily calculate your Cyprus Dividend Taxes Using our Dividend Tax calculator Our dividend tax calculator quickly calculates the defence and GHS (GESY) contribution. Moreover, our calculator takes into account your tax residency, country of domicile and other GHS contributions to correctly calculate your dividend taxes. It is so simple, you only need to enter your gross dividends, select the dividend distribution period and the rest is done automatically. Click to Access Our calculator [...]
ANNOUNCEMENT The Tax Department announced that the date of submission of the 2019 Income Statement for: (a) employees and retirees (IR1) and (b) self-employed whose turnover does not exceed € 70,000 (IR1 self-employed), as well as the payment of the corresponding tax, is extended until October 30, 2020 at 23:59 (ΚΔΠ 247/2020). It should be noted that that the obligation to submit an Income Statement (IR1) form for the year 2019, arises ONLY [...]
2nd Self Assessment 2019 Temporary Tax Assessments Taxpayers must submit their temporary tax return before the 31st of July of each year based on their estimated current year’s taxable income and pay the corresponding temporary tax. The temporary tax payments must be made on the estimated current year profit in two equal installments, on 31st July and 31st December. The estimated taxable income declared under self assessments can be revised (upwards/downwards) any time prior to 31st of [...]
Download our June 2019 Newsletter This version of our newsletter covers the following areas: Upcoming tax deadlines and how we can assist you List of New and Existing resources and calculators to assist with your daily business and tax requirements
The most common question when it comes to the decision to incorporate your business is "What will be my tax saving?". Our incorporation calculator aims to provide a quick answer to what will be your tax saving from from incorporating your business. However, the decision to incorporate your business should take into account other benefits in addition to tax savings. Incorporating a business offers a range of benefits including protections of the owners [...]
31 January is the deadline for all companies to calculate and pay their deemed divided distribution and special defence contributions, respectively. Use our calculator to estimate your DDD and the respective SDC. Using our Deemed Dividend Distribution calculator Use our deemed dividend distribution calculator to estimate your special defence contributions due from your deemed dividend distribution. Click to Access Our calculator Resources Additional information on social insurances and other [...]
As of 1 January 2019, the employer and employee social insurance contribution rates have both increase by 0.5% - i.e. from 7.8% to 8.3%. Social Insurance and other funds rates Employer Employee Self-employed % % % Social Insurance Fund 8,3 8,3 15,6 Redundancy Fund 1,2 - - Industrial Training Fund 0,5 - - Social Cohesion Fund 2,0 - - Central Holiday Fund (can ask for exception) 8% - - Contributions to the [...]
2nd Self Assessment 2019 Temporary Tax Assessments Taxpayers must submit their temporary tax return before the 31st of July of each year based on their estimated current year’s taxable income and pay the corresponding temporary tax. The temporary tax payments must be made on the estimated current year profit in two equal installments, on 31st July and 31st December. The estimated taxable income declared under self assessments can be revised (upwards/downwards) any time prior to 31st of [...]
