According to the Cyprus Income Tax Law, Cyprus companies have the obligation to submit a temporary tax assessment / estimation of their 2018 chargeable income

The temporary tax assessment / estimation is payable in two equal installments, before or at the following dates:

  • 31 July 2018
  • 31 December 2018

A 10% surcharge is imposed on the difference between the tax as finally determined in the relevant annual report (financial statements) and the temporary tax assessment / estimation when the temporary assessment / estimation is less than the 75% of the chargeable income. Revised tax assessment / estimations can be submitted at the Cyprus Tax department on or before 31 December 2018

Cyprus Companies which pay their taxes after the due dates penalty and interest is imposed.

If in according to the company's estimates there is no taxable income or any tax due, the Cyprus Company is not required to make a declaration.

The settlement of Cyprus companies' provisional tax payment done through JCCSmart website

Cyprus companies provisional tax online payment for the year 2018

The settlement of Cyprus companies' provisional tax payment is done through JCCSmart website through the following link:

Please follow the instructions below for the payment through JCCSmart website.

Instructions for the online payment of Cyprus Companies provisional tax for the year 2018 through JCCSmart website:

  1. Click on the following link
  2. If you retain an account with JCCSmart please skip steps 3 and 4 and move to step 5. If not, please follow steps 3 and 4 to create one
  3. Click on the link 'NEW CLIENT' and input all required data in the fields provided and click the link 'REGISTER' – your account has been created
  4. Then repeat the procedure from step 1
  5. Input your email address and the password to be log in the system
  6. Click on the "tax department" icon
  7. Find the title "(0200) 2018 TEMPORARY INCOME TAX ONLY 1st INSTALL" and then click "please click here to pay your invoice"
  8. Then input relevant details requested including TIC (Tax identification number) tax payers name etc including the estimated taxable income for the year 2018, relevant estimated tax payment and estimated tax installment
  9. Then input your card's details according to the required fields for the completion of the transaction

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.