CYPRUS TAX DIARY

At the end of each month the following payments must be made:
  • Payment of tax deducted from employees’ salaries (PAYE) in the preceding month.
  • Payment of tax withheld in the preceding month on payments to non-CY tax residents.
  • Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or a local authority) made to Cyprus tax residents in the preceding month.
31 January 2017
  • Submission of declaration of deemed dividend distribution (TD623) for the year ended 31 December 2014.
31 March 2017
  • Electronic submission of 2015 corporation tax return (TD4) for companies and individuals preparing audited accounts.
  • Electronic submission of the 2015 income tax return of self-employed, physical persons preparing audited financial statements (A physical person is obliged to submit audited financial statements if his/her turnover exceeds €70.000 annually).
30 April 2017
  • Submission of non-electronic personal tax returns for 2016 by salaried individuals with gross income exceeding €19.500.
  • Payment of premium tax for life insurance companies – first installment for 2017.
30 June 2017
  • Payment of 2016 personal income tax under self-assessment method by individuals not preparing audited financial statements.
  • Payment for defence tax contribution in relation to dividends, rents, or interest from sources outside Cyprus for the first half of 2015.
  • Submission of non-electronic for 2016 personal tax returns of individuals not required to prepare audited financial statements but whose incomes includes income form a trade/business, rents, dividends, interest, royalties or income relating to trading goodwill.
31 July 2017
  • Electronic submission of employer’s payroll (TD7) for 2016.
  • Electronic submission of personal tax return (IR1) for 2016 by salaried individuals with gross income exceeding €19.500.
  • Submission of provisional tax assessment for 2017 and payment of the first instalment. If an installment is not paid by the deadline date, interest is chargeable at the rate of 4% per year. If both installments are missed then a penalty of 5% is imposed.
1 August 2017
  • Payment of tax balance for 2016 corporation tax through self-assessment.
  • Payment of tax balance for 2016 personal income tax through self-assessment by individuals preparing audited financial statements.
31 August 2017
  • Payment of premium tax for life insurance companies – second installment for 2017.
30 September 2017
  • Electronic submission of personal tax return for 2016 by individuals with gross income exceeding €19.500 and who do not prepare audited accounts but whose incomes include income from a trade/business, rents, dividends, interest, royalties or income relating to trading goodwill.
31 December 2017
  • Payment of provisional tax 2017 provisional tax – second and last installment for 2017.In case the provisional tax paid is less than 75% of the final tax, an additional penalty of 10% is imposed on the difference of the provisional tax paid and the final tax.
  • Payment of special contribution for defence for the second half of 2017 on rents if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus.
  • Payment of premium tax for life insurance companies – third and last installment for 2017.