Tax deadlines in Cyprus

31 January

  • Submission of deemed dividends distribution declaration for the Tax year 2021. (Tax form TF623))

28 February

  • For qualifying charterers, qualifying managers and qualifying owners of foreign-flagged vessels, tonnage tax declaration and payment of tonnage tax of 2023

31 March

  • Electronic submission of 2022 company tax returns (Tax form TD4)
  • Submission of 2022 tax returns of individuals for which audited financial statements were prepared (with turnover exceeding €70.000) (Tax from TD1)
  • For qualifying owners of Cyprus flagged vessels, tonnage tax declaration upon entry to the system and payment of tonnage tax of 2023

30 April

  • Payment of provisional tax for the first four months of 2024 by life insurance Companies (Tax from TD199)

31 May

  • Employer’s return electronic submission. An electronic submission by employers of the total 2023 payroll. Submission is mandatory when the company has employees and then does not (Tax form TD7)

30 June

  • Payment of special contribution and GHS of defence of rental income for the first half of 2024 if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus. (Through tax portal under payment codes 604, 612, 613). Payment of SDC (and GHS contributions if payment is made to Cyprus tax resident individual) withheld on rent* paid for the first 6 months of 2024. *Where the tenant is a Cyprus company, partnership, the Government or a local authority there is an obligation to withhold SDC on the amount of the rent paid (Tax forms TD614 (payment code 614))

31 July

  • Submission of the provisional tax return and payment of the first instalment for 2024. (10% penalty on the difference between the tax due per final assessment and the tax due per temporary assessment if the difference is less than 75% is imposed). (Through tax portal under payment codes 200 and 213 for self-employed individuals)
  • Electronic submission of 2023 personal income tax returns and payment of personal income tax under the self-assessment by employees and pensioners, whose incomes do not include income from a trade/business, rents, dividends, interest, royalties or income relating to trading goodwill. (Tax from TD1)

1 August

  • Payment of the final corporation tax for companies via self-assessment in 2023. (Through tax portal under payment code 300)
  • Payment of the final income tax for individuals who prepare audited accounts, via self-assessment of 2023. (Through tax portal under payment code 300)

31 August

  • Payment of the provisional tax for the second four months of 2024 by life insurance companies (Tax form TD199)

31 December

  • Payment of the second provisional tax instalment (assuming no revision i.e. as per the initial provisional tax calculation). Tax can be paid within one month from the payment deadline (i.e. until 31 January 2025) without interest or penalties.
  • Submission of revised Temporary Tax Assessment for 2024 if considered necessary and payment deadline for the second provisional tax instalment for 2024. Upward revision of the provisional taxable income declared interest (current interest rate) would be imposed on the additional amount of the first provisional tax instalment. The upward revision is done electronically through the Cyprus tax portal under payment codes 604, 612 613 by entering in the field “Final Taxable Income”, the Revised Taxable Income of the entire year and entering in the field “Tax Payable” ONLY the amount of the increase. In case of a revision reduction of the initially declared temporary – provisional taxable income, the entry is made in the “Final Taxable Income” field, the Revised Taxable Income of the entire year and in the “Tax Payable” field ONLY the amount of the reduction with a negative sign.
  • For employees and pensioners whose emoluments are higher than their other income and who haven’t paid the tax which relates to at least 75% of the total income through withholding by the employer (under the PAYE system), an additional tax of 10% is imposed.
  • Payment of the special contribution of defence and GHS of rental income for the second half of 2024 if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus. Tax can be paid within one month from the payment deadline (i.e. until 31 January 2025) without interest or penalties. (Tax form TD614) (payment code 614)
  • Payment of provisional tax for the last four months of 2024 by life insurance companies Tax can be paid within one month from the payment deadline (i.e. until 31 January 2025) without interest or penalties. (Tax form TD199)

End of each month

  • Payment of PAYE, special contribution, Social Insurance and GHS deducted from the employee’s salary in the preceding month (Tax form TD61)
  • Payment of special defence contribution and GHS withheld from rental payment, by a company, partnership, the state or local authority, in the preceding month (Tax from TD11)
  • Payment of special defence contribution and GHS (where applicable) on dividends and interest of the preceding month to Non-Cyprus residents (Tax forms TD603, TD602)

Within 30 days

  • Payment of National Health System deductions and contributions
  • Payment of Capital Gains Tax

Within 60 days

  • Obtaining a tax identification number from the date of the Company’s registration
  • Notification of the Company’s changes to the Cyprus Tax Department (i.e., registered office, activities, auditors etc.)

End of period

  • Stocktaking

End of the following month the month of notification

  • Submission of information requested in writing by the Cyprus Tax Department. (General rule)

Late payment of taxes

  • Late payment of taxes is subject to interest at the current rate plus a 5% penalty on the tax due. An additional penalty of 5% may be imposed by the Cyprus Tax Department if the tax remains unpaid two months after the due date. 

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