In 2019 Cypriot taxpayers (including companies and individuals resident in Cyprus) must declare their incomes and pay taxes within the following deadlines:
|End of each month
- Payment of tax withheld from salary (PAYE, “pay-as-you-earn”) during the previous month.
- Payment of Social Insurance and General Healthcare Contributions from salaries of the previous month.
- Payment of Special Contribution for Defense (SCD) that was withheld from dividends, interest and rent payments (if tenant is a Cyprus company, partnership, government or local authority) made to Cyprus tax residents during previous month.
- Payment of withholding tax on sums paid to Сyprus non-residents during previous month.
||Filing of deemed dividend distribution declaration (TD623) for the tax year 2016.
||Electronic filing of Income Tax return (TD1/TD4) for 2017 by natural persons and companies obliged to prepare audited financial statements.
- Payment of personal income tax for 2018 after self-assessment by individuals who are not obliged to prepare audited financial statements (employees and self-employed).
- Payment of SCD on rents, dividends or interest from sources outside Cyprus for the first six months of 2019.
- Payment of Annual Levy by companies in the amount of 350 Euro for 2019.
- Filing of temporary tax assessment for 2019 and payment of the first instalment.
- Electronic filing of employers’ return for 2018 (TD7).
- Electronic filing of personal tax return (TD1) for 2018 by employees whose gross income exceeds 19 500 Euro for the tax year 2018.
||Payment of the tax balance under self-assessment for 2018 by individuals and companies obliged to prepare audited accounts.
- Electronic filing of personal income tax return (TD1) for 2018 by self-employed individuals who are not obliged to prepare audited financial statements if their gross income exceeds 19 500 Euro.
- Payment of the second and final instalment of provisional tax for 2019.
- Payment of SCD on dividends, interest and rents from sources outside Cyprus for the second half of 2019.
Non-payment of tax within established deadline may lead to imposition of interest in the amount of 2% starting from 2019 (for 2014 – 4,5%; for 2015 and 2016 – 4%; for 2017 and 2018 – 3,5%).
Overdue filing of Income Tax Returns may lead to the imposition of a penalty equal to 100 or 200 Euro (depending on the specific case).
In case of overdue payment of tax a penalty of 5% is imposed on the unpaid amount of tax. An additional penalty of 5% is imposed if the tax remains unpaid in 2 months after the payment deadline.