END OF FOLLOWING MONTH
  • Payment of tax deducted from employees salary (PAYE).
  • Payment of Social Insurance deducted from employees salary.
  • Payment of NHS contributions.
  • Payment of special contribution for defence on dividends and interest received in the preceding month.
  • Payment of Tax withheld on payments to non-Cyprus residents (i.e. artists, performers).
  • Payment of Special Contribution for defence withheld on payments of rents in Cyprus.
WITHIN 60 DAYS
  • Obtaining a Tax Identification Code: Following the registration or incorporation of a company with the Registrar of Companies, the company is obliged to submit an application for registration with the Inland Revenue Department. Similar rules apply in the case of companies incorporated outside Cyprus that become tax resident of Cyprus.
31 JANUARY
  • Submission of declarations of deemed dividend distribution (auditor and director's declaration or IR623 forms) and payment of relevant SDC.
31 MARCH
  • Submission of 2019 tax return (IR4) for companies via the electronic Taxisnet system.
  • Submission of 2019 tax return (IR1SE) for physical persons preparing audited financial statements via the electronic taxisnet system.
30 APRIL
  • Payment of premium tax for life insurance companies – first installment.
30 MAY
  • Submission by employers of the Employer's Return of the previous year (Form IR7) electronically via Taxisnet System.
30 JUNE
  • Submission of previous year's personal tax returns of self-employed individuals not preparing audited financial statements – see notes (1) and (2) below
  • Payment of special contribution for defence for the first six months of the year.
  • Payment of the annual levy to the Registrar of Companies.
31 JULY
  • Submission of the previous year personal income tax returns (IR1) of individuals (electronically via Taxisnet system) - see note (1) below.
  • Payment of personal tax under self assessment method.
  • Submission of provisional tax declaration and payment of first installment (out of two) of provisional tax for the year.
1 AUGUST
  • Payment of previous year's final corporation tax under the self-assessment method.
  • Payment of previous year's income tax under the self assessment statements – see note (2) below.
31 AUGUST
  • Payment of premium tax for life insurance companies - second installment.
30 SEPTEMBER
  • Payment of immovable property tax for the year.
31 DECEMBER
  • Payment of provisional tax – second and last installment.
  • Payment of special contribution for defence for the last six months of the year.
  • Payment of premium tax for life insurance companies- third and last installment.


Notes

(1) Physical persons submit returns only where they have income to report irrespective of whether such income exceeds euro 19.500 or not.

As from the tax year 2017 online tax return submission is mandatory for all tax registered individuals.

(2) A physical person is obliged to submit audited financial statements if his/her annual turnover exceeds the amount of €70.000.

Originally published 03 February 2021

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.