tax calendar

• Submission of the 2021 corporation incometax return

TD4

•  €100 penalty for late submission

• Submission of the 2021 income tax return for
  physical persons preparing audited financial
  statements

TD1

• €100 penalty for late submission

• Submission of the employer’s return for 2022

TD7

• €100 penalty for late submission

• Payment of the 2023 General Health
  Contributions on rents, dividends, or interest
  under self-assessment, for the first 6 months
  of 2023

TD601

• Interest at 1.75%* per annum from due date.
• 5% imposed on the tax due

• Payment of the Annual Levy of €350 for the current year.

-

• 10% imposed if the payment is made within 2 months from due date
• An additional 30% is imposed if the payment is made within 5 months from the due date.
• The RoC may strike off a company who fails to pay the Levy within one year of the due date

• Payment of the 2022 personal income tax and
  General Healthcare Contributions under a self-assessment method by individuals not
  preparing audited financial statements
  (employees and self-employed)

-

• Interest at 1.75%* per annum from due date.
• 5% imposed on the tax due
• Additional 5% on the tax due if tax due not
  settled within 2 months from the payment
  deadline.

• Submission of the 2023 temporary tax assessment and payment of the first instalment for both individuals and companies.

TD6

• 10% penalty imposed on the difference between tax due per the temporary tax assessment, if the the temporary tax assessment is less than 75% of the final tax charge.

• Submission of the personal income tax return for 2022 for both self-employed (not required to prepare audited financial statements) and employees.

TD1

• €100 penalty for late submission

• Payment of the 2022 final corporation tax balance under the self-assessment method
• Payment of the 2022 final personal tax balance
  for individuals preparing audited financial
  statements under the self-assessment method

-

• Interest at 1.75%* per annum from due date.
• 5% imposed on the tax due
• Additional 5% on the tax due if tax due not settled within 2 months from the payment deadline.

• Payment of the second and last instalment ofthe provisional tax for 2022

-

• Interest of 1.75%* per annum is imposed.
• In addition, in case of delay in payment a flat
  5% penalty on the tax due is payable.

• Submission of the revised provisional tax return, if necessary.

TD6

• 10% penalty imposed on the difference between tax due per the temporary tax assessment, if the the temporary tax assessment is less than 75% of the final tax charge.

• Payment of the 2023 special contribution for defence on rents, dividends, or interest from sources outside Cyprus for the second 6 months of 2023 (TD601)

TD601

• 1.75% per annum imposed from the first day after the end of the six month period.
• 5% imposed on the tax due

• Payment of Special Contribution for Defence
  and General Health Contributions withheld
  from Cyprus sourced dividends and interest for
  tax resident and domiciled individuals relating
  to the preceding month
• Payment of Special Contribution for Defence
  and General Healthcare contributions withheld
  from Cyprus sourced rent paid to tax resident
  and domiciled individuals (when tenant is a
  company, partnership, the state or local
  authority) relating to the preceding month

-

• 1.75% per annum imposed from the first day
  after the end of the six month period.
• 5% imposed on the tax due

• Submission - Declaration of withheld Special
  Contribution for Defence and National Health
  Contribution from Interest

TD602

• €100 penalty for late submission

• Submission - Declaration of withheld Special
• Contribution for Defence and National Health Contribution from Dividends relating to the preceding month

TD603

• €100 penalty for late submission

• Payment of tax deducted from employees’ emoluments

• 1.75% per annum imposed from the first day
  after the end of the six month period.
•  1% per month calculated on the basis of
  completed months

• Social insurance and General Healthcare Contributions relating to salaries of the previous month

• 3% penalty for each month of delay (total
  amount of penalty cannot exceed 27% of
  amount due)

• Payment of capital gains tax

-

• Interest of 1.75%* per annum is imposed.
• In addition, in case of delay in payment a flat
  5% penalty on the tax due is payable.

• Businesses who own inventory must conduct
  stocktaking procedures annually

• €100 for failing to perform stocktake

• Submission of VAT Return and payment of the
  VAT amount due

VAT 4

• €51 for late submission per VAT return
• Late payment of VAT amount results in a 10%
  penalty on the outstanding amount and
  interest at 1.75% per annum on the
  outstanding amount and the penalty.

• Submission of the Intrastat form

Intrastat
1.1, 1.2

• €15 for late submission for each intrastate
  form
• Omission or delay in submission of intrastate
  forms for a period beyond 30 days constitutes
  a criminal offence and in case of conviction
  the penalty may reach up to €2.562.

• Submission of VIES form for goods and
  services

VIES 1

•  €50 for late submission for each VIES form
• Omission or delay in submission of intrastatef orms for a period beyond 30 days constitutes a criminal offence and in case of conviction the penalty may reach up to €850.