PRESS RELEASE
1 December 2020

Deadline For Submitting Tax Form TD1 Now Extended To 15 December 2020

EN
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.
Last week, the Tax Department announced that, by Decree of the Minister of Finance on 27 November 2020, certain submission deadlines are extended up to, and including, 15 December 2020.
Cyprus

Last week, the Tax Department announced that, by Decree of the Minister of Finance on 27 November 2020, certain submission deadlines are extended up to, and including, 15 December 2020.  The extension applies to Individual Income Tax Statements for the year 2019,  and, payments of any overdue Tax as shown in the 2019 Personal Income Statement upon completion of the tax calculations.

Individual Income Tax Statement, form TD1 for employed individuals or TD1 for self-employed, can ONLY be submitted electronically through the TAXISnet system. It should be noted that individuals who are obliged to submit an Individual Income Tax Statement are those whose gross income for 2019 exceeds € 19,500.00.

Tax payments can also be made through internet banking, using the payment reference number in the Tax Department Gateway. Please note that overdue payments cannot be processed through the JCC Smart payment system.

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.

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