Increase of personal allowances claimed
5 January 2020
The Cyprus Board of Ministers amended the income tax law and increased the personal allowances that an individual can claim for income tax deduction (social insurance, national health system insurance, pension, provident fund, life insurance, medical fund, etc.), from 1/6 to 1/5 of the taxable income.
Tax o'Clock
Tax o'Clock provides information to businesses and individuals regarding the tax framework of Cyprus. The website is an informative tool which keeps the reader up to date about tax related matters, tax laws and regulations and special tax schemes.
Tax o'Clock publishes the latest tax news and updates about Cyprus. On a regular basis publications are issued concerning tax related matters and special tax schemes of Cyprus.
Income tax return preparation/submission for all the physical persons
24 October 2019
The Cyprus Board of Ministers approved the Tax Law which mandates all physical persons, irrespective of their amount of income, to be registered to the Tax Authorities and submit an income tax return. This is enforceable for the income tax return of the year 2020 onwards.
Deadline extension for companies and self-employed individuals income tax return for the year 2017
27 March 2019
The Cyprus Tax Department announced that the deadline for the submission of the income tax return for the year 2017, for companies and self-employed preparing audited accounts (annual turnover above €70.000) individuals, is extended until 30 April 2019.
Payment of the second installment of the temporary/provisional income tax for 2018 without penalties and interest
31 December 2018
The Cyprus Tax Department informed that, the payment of the second installment of the temporary/provisional income tax of 2018 for companies and self-employed preparing audited accounts (annual turnover above €70.000) individuals, is executed electronically via JCC Smart website until 31 January 2019, without penalties and interest.
Payment of the personal due tax for the year 2017 without penalties and interest
1 November 2018
The Cyprus Tax Department informed that, the due tax for employee and self-employed not preparing audited accounts (annual turnover below €70.000) individuals, is payable electronically via JCC Smart website until 30 November 2018, without penalties and interest.
Deadline extension for tax liabilities and obligations
5 September 2018
The Cyprus Tax Department informed that, in cases where, the deadline for submitting an income tax return, payment of a tax liability or any other tax obligation falls to be a weekend day or a public holiday, then the deadline is extended to the next working day.
Last day for submitting a personal income tax return and payment of the due tax
15 June 2018
The Cyprus Tax Department announced that 31 October 2018 is the last day for:
- submitting an employee and self-employed income tax return (not preparing audited accounts - annual turnover below €70.000) for the tax year 2017
- payment of the due tax calculated by the employee and self-employed (not preparing audited accounts - annual turnover below €70.000) for the tax year 2017.
Settlement of overdue tax liabilities up to the year 2015 without penalties and interest
7 February 2020
The Cyprus Parliament approved the tax law that extends the deadline for settling the overdue tax liabilities up to the year 2015 without penalties and interest, until 14 January 2021. It is noted that all tax obligations that are fall due after the year 2015 must be settled/executed in order to be able to apply and benefited by this special arrangement.
Deadline extension for companies and self-employed individuals income tax return for the year 2018
22 May 2020
The Cyprus Tax Department announced that the deadline for the submission of the income tax return for the year 2018, for companies and self-employed preparing audited accounts (annual turnover above €70.000) individuals, is extended until 30 June 2020.
Deadline extension for companies and self-employed individuals income tax return for the year 2019
12 March 2021
The Cyprus Tax Department announced that the deadline for the submission of the income tax return for the year 2019, for companies and self-employed individuals preparing audited accounts (annual turnover above €70.000), is extended until 30 September 2021.
Deadline extension for tax obligations and liabilities for the year 2020
23 April 2021
The Cyprus Tax Department announced the following deadlines' extension:
- The submission of the income tax return for the year 2020, for employees and self-employed individuals (not preparing audited accounts), is extended until 30 September 2021.
- Payment of income tax due for the year 2020, for employees and self-employed individuals (not preparing audited accounts), is extended until 30 September 2021.
- The submission of the employer's return for the year 2020, is extended until 30 September 2021.
- Payment of the second installment for the year 2020, is extended until 30 September 2021, without penalties and interest.
News & Updates
Deadline extension for income tax return and due tax for the year 2020
23 July 2021
The Cyprus Tax Department announced that the income tax return for the year 2020 for employees and self-employed individuals (not preparing audited accounts), is now available for submission through the TaxisNet system.
Also, the submission of the related income tax return and the payment of the due tax, will be extended until 30 November 2021.
Deadline extension for companies and self-employed individuals income tax return for the year 2019
27 September 2021
The Cyprus Tax Department announced that the deadline for the submission of the income tax return for the year 2019, for companies and self-employed individuals preparing audited accounts (annual turnover above €70.000), is extended until 30 November 2021.
Deadline extension for companies and self-employed individuals income tax return for the year 2020
24 March 2022
The House of Representatives of Cyprus approved the extension of the deadline for the submission of the income tax return for the year 2020, for companies and self-employed individuals preparing audited accounts (annual turnover above €70.000), until 31 July 2022.