ARTICLE
1 September 2020

Tax Department Announces Probable Extension To Deadline For Submitting 2019 Tax Return TF1.

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Elias Neocleous & Co LLC

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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.
On 25 August 2020, the Tax Department issued an announcement that, due to technical reasons, it has not yet been able to make the following 2019 Income Tax Returns available for submission...
Cyprus Tax

On 25 August 2020, the Tax Department issued an announcement that, due to technical reasons, it has not yet been able to make the following 2019 Income Tax Returns available for submission via TAXISnet:

  • Employees and individuals (TF1_individual),
  • Self employed individuals with turnover below EURO 70,000 (TF1_self employed).

Ordinarily the returns are available for submission early in the year and must be submitted no later than 31 July. Publication of the returns was initially postponed due to the lockdown situation caused by the Covid 19 situation and the deadline for submission deferred until 31 October 2020. It was originally anticipated that the forms would be made available in July, however, 'technical difficulties' forced further postponement. No clarification of what the 'technical difficulty' is has been given but, in acknowledgement of the fact that 31 October 2020 is rapidly approaching, the Tax Commissioner has expressed a willingness to extend the submission deadline if necessary and apologised for any inconvenience caused.

Taxpayers will receive an email notification when the forms are available. This will be sent to the address associated with their TAXISNET account.

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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