| Deadline | Tax Obligation | Tax Form | Penalties |
| End of each month | Payment of PAYE deducted from employees’ salaries for the previous month | TD61 | Late payment results in the imposition of interest at 1.75%* per annum from the due date and an additional penalty of 1% per month calculated on the basis of completed months.
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| Payment of special contribution for defence withheld on dividends, interest or rent** paid in the previous month to Cyprus tax residents **Where the tenant is a Cyprus company, partnership, the Government or a local authority there is an obligation to withhold special contribution for the defence on the amount of the rent paid | TD601 TD602
| In case of Special Contribution to the Defence Fund withheld on rents, dividends and interest begins to accrue at the end of the month which follows the month to which it relates (interest is calculated on a daily basis). In addition, in case of delay in payment, a flat 5% penalty on the tax due is payable. Late payment of outstanding Special Contribution to the Defence Fund which relates to the rental period after 1/7/11 results in the imposition of a penalty equal to €100. | |
| Payment of Social Insurance and General Healthcare System (ΓΕΣΥ)** Contributions deducted from employees’ salaries for the previous month **Due from 1/3/2019 | Υ.Κ.Α. 2-002 | Late payment results in the imposition of a penalty of 3% for each month of delay. The total amount of the penalty cannot exceed 27% of the amount due. | |
| 31 January | Submission of the deemed dividend distribution declarationand payment of special defence contribution | TD623 | Late submission results in the imposition of a penalty equal to €100. If the tax return for a specific year is requested in writing by the Tax Department and this is not submitted within the requested period, a penalty of €200 is imposed for every notice issued. Interest is imposed at the rate of 1.75%* per annum from the due date. Any person omitting to pay the due tax by the due payment date is liable to a 5% penalty on the tax due.
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| 31 March | Electronic submission of the Income Tax return for Companies | TD4 | Late submission results in the imposition of a penalty equal to €100. If the tax return for a specific year is requested in writing by the Tax Department and this is not submitted within the requested period, a penalty of €200 is imposed for every notice issued.
Any person who omits any information from the tax return shall be liable, on conviction, to a fine up to €3.417 plus the tax due. |
| Electronic submission of the Income Tax return for Individuals preparing audited financial statements | TD1 | Late submission results in the imposition of a penalty equal to €100. If the tax return for a specific year is requested in writing by the Tax Department and this is not submitted within the requested period, a penalty of €200 is imposed for every notice issued.
Any person who omits any information from the tax return shall be liable, on conviction, to a fine up to €3.417 plus the tax due. | |
| 31 May | Electronic submission of the Employers’ return for the previous tax year | TD7 | Late submission results in the imposition of a penalty equal to €100. If the tax return for a specific year is requested in writing by the Tax Department and this is not submitted within the requested period, a penalty of €200 is imposed for every notice issued.
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| 30 June | Payment of Annual Levy of €350
| – | In case the fee is not paid in a timely manner, a charge of 10% is imposed if the payment is made within 2 months of the due date. If the payment is made within 5 months of the due date, an additional charge of 30% is imposed. The Registrar of Companies can strike off a company in the event that the company does not pay its annual levy within one year of the due date.
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| Payment of special contribution for defence on rents**, dividends or interest from sources outside of the Republic for the first 6 months of the current tax year **Also valid for rents received within the Republic | TD601 | For rental income, interest at the rate of 1.75%* per annum is imposed from the first day after the end of the six-month period (interest is calculated on a daily basis). In case of Special Contribution to the Defence Fund withheld on rents, dividends and interest begins to accrue at the end of the month which follows the month to which it relates (interest is calculated on a daily basis). In addition, in case of delay in payment, a flat 5% penalty on the tax due is payable. Late payment of outstanding Special Contribution to the Defence Fund which relates to the rental period after 1/7/11 results in the imposition of a penalty equal to €100. | |
| Deadline | Tax Obligation | Tax Form | Penalties |
| 30 June | Payment of tax balance for the previous tax year through self assessment by Individuals who don’t prepare audited Financial Statements | TD158 | If the tax is not paid by the due date, interest is imposed at the rate of 1.75%* per annum (interest is calculated on the basis of completed months). |
| 31 July | Electronic submission of the personal Income tax return by salaried Individuals | TD1 | Late submission results in the imposition of a penalty equal to €100. If the tax return for a specific year is requested in writing by the Tax Department and this is not submitted within the requested period, a penalty of €200 is imposed for every notice issued.
Any person who omits any information from the tax return shall be liable, on conviction, to a fine up to €3.417 plus the tax due.
As of the tax year 2020, all individuals who have a gross income that falls under Article 5 of the Income Tax Law (i.e., dividends, interest, and certain other income) are obliged to submit a tax return.
The Council of Ministers is empowered to issue decrees which will specify which categories of taxpayers with a total annual gross income below the taxable threshold of €19.500 will be exempted from the obligation to submit a tax return.
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| Submission of the Provisional tax return for the current tax year and payment of the first provisional tax instalment | TD5 TD6 | A penalty of 10% is imposed on the difference between the tax due per the final assessment and the tax due per the temporary assessment, if the temporary taxable income per temporary assessment is less than 75% of the taxable income per the final assessment.
If any instalment of the temporary tax assessment is not paid within 30 days from the due date, interest at the rate of 1.75%* per annum is imposed. | |
| 01 August | Payment of the tax balance of the previous tax year through self-assessment by Individualsand Companies preparing audited financial statements | TD158 | If the tax is not paid by the due date, interest is imposed at the rate of 1.75%* per annum (interest is calculated on the basis of completed months). |
| 31 December | Submission of the revised Provisional tax return for the current tax year (if applicable) and payment of the second provisional taxinstalment | TD5 TD6 | A penalty of 10% is imposed on the difference between the tax due per the final assessment and the tax due per the temporary assessment, if the temporary taxable income per temporary assessment is less than 75% of the taxable income per the final assessment. If any instalment of the temporary tax assessment is not paid within 30 days from the due date, interest at the rate of 1.75%* per annum is imposed.
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| Payment of special contribution for defence on rents**, dividends or interest from sources outside of Cyprus for the last 6 months of the current tax year **Also valid for rents received within the Republic | TD601 | For rental income, interest at the rate of 1.75%* per annum is imposed from the first day after the end of the six-month period (interest is calculated on a daily basis). In case of Special Contribution to the Defence Fund withheld on rents, dividends and interest begins to accrue at the end of the month which follows the month to which it relates (interest is calculated on a daily basis). In addition, in case of delay in payment, a flat 5% penalty on the tax due is payable. Late payment of outstanding Special Contribution to the Defence Fund which relates to the rental period after 1/7/11 results in the imposition of a penalty equal to €100.
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| VAT Periods | Submission and Payment Date | VAT Forms | Penalties |
| VAT Return: 1st VAT period 1/1 – 31/3 1/4 – 30/6 1/7 – 30/9 1/10 – 31/12 | 10/05 10/08 10/11 10/02 | VAT 4 | Late submission results in the imposition of a penalty equal to €51. Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest1.75%*. |
| VAT Return: 2ndVAT period 1/2 – 30/4 1/5 – 31/7 1/8 – 31/10 1/11 – 31/1 | 10/06 10/09 10/12 10/03 | VAT 4 | Late submission results in the imposition of a penalty equal to €51. Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest1.75%*. |
| VAT Return: 3rdVAT period 1/12 – 28/2 1/3 – 31/5 1/6 – 30/8 1/9 – 30/11 | 10/04 10/07 10/10 10/01 | VAT 4 | Late submission results in the imposition of a penalty equal to €51. Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest1.75%*. |
| Submission of lntrastat return for arrivals from, as well as dispatches to other EUMember States. | By the 10thof the month following the end of the reporting period, where the arrivals/dispatches were made | INTRASTAT 1.1 INTRASTAT 1.2 | Late submission results in the impositions of a penalty equal to €15 for every lntrastat return. |
| Submission of the Recapitulative Statement(VIES)for a taxable person delivering intra-community supplies of goods and/ or services to taxable persons in other EU Member States. (no exemption threshold) | By the 15thof the month following the end of the reporting period, where the supplies were made | VIES 1 VIES 2 | Late submission of the Recapitulative Statement (VIES),results in the impositions of a penalty equal to €50 for every VIES return. |
