Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1 Clarification of the Tax Department on the imposition of 3% SDC on interest from corporate bonds

1. 2 MoF's intention to submit a bill to increase allowable tax deduction for individuals for contributions to certain Funds

1. 3 MoF's proposal to oblige service providers & merchants to accept card payments

1. 4 MoF's proposal for the compulsory submission of income tax returns by all citizens


2. International developments

2. 1 European Commission checklist for Brexit

3.  Tax diary for September 2019

30 September 2019

-      Deadline for the electronic submission of the 2018 personal tax return by self-employed individuals who do not prepare audited Financial Statements, if their gross income exceeds €19.500.

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.