ARTICLE
14 May 2018

Electronic Submission Of 2017 Income Tax Returns

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Elias Neocleous & Co LLC

Contributor

Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
Electronic Submission Of 2017 Income Tax Returns
Cyprus Tax

In April 2018 the Cyprus Tax Department announced that income tax returns for 2017 must be submitted online via its TAXISnet portal, and that paper returns will not be accepted. Disquiet has been expressed by some taxpayers that the returns for 2017 are not yet available, causing them concern that they will not have sufficient time to familiarise themselves with the system and complete the new forms.

In order to allay these concerns the Tax Department has reassured taxpayers that it will inform them as soon as the requisite forms are available for online submission via the TAXISnet portal, and of the closing date for submission, and that all the necessary time will be given to taxpayers to be able to comply. Notifications will also be emailed to all users. In the meantime, the Tax Department has again recommended all taxpayers who have not yet registered with TAXISnet to do so.

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.

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