Alert for Cyprus Companies: Provisional Tax Assessment for 2024
Attention Cyprus Companies: Ensure Your Provisional Tax Assessment for 2024 is Completed
As per the Cyprus Income Tax Law, all Cyprus companies are required to submit a provisional tax assessment for the year 2024. Cyprus companies should submit a temporary tax assessment/estimation of their 2024 chargeable income for the year and must be submitted in two equal installments by the following dates:
- 31 July 2024
- 31 December 2024
A 10% surcharge is imposed on the difference between the tax as finally determined in the relevant annual report (financial statements) and the temporary tax assessment/estimation when the temporary assessment/estimation is less than 75% of the chargeable income. Revised tax assessments/estimations can be submitted online through the Cyprus Tax Department Portal website on or before 31 December 2024
Avoid Penalties and Interest
Late payments of provisional tax will incur penalties and interest. If your company’s estimates indicate no taxable income or tax due, a declaration is not required.
How to Pay Your Cyprus Company Provisional Tax
Cyprus companies can settle their provisional tax payments through the Cyprus Tax Department portal. Use the following link to access the portal:
Online Payment Instructions:
- Log in to the system with your username and password.
- Search for “0200 – Income Tax (individuals and legal persons)”.
- Complete the fields for:
- Relevant year,
- Yearly taxable income and,
- Yearly total tax due.
- Proceed with the first installment payment.
Need Assistance?
Our team is here to help. If you have any questions or need further assistance with your provisional tax assessment for 2024, Contact Us Today!
Contact details
Tel. +357 22 340000
Email: [email protected]
The authors expressly disclaim all and any liability and responsibility to any person, entity, or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.
Accordingly, no person, entity, or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.