Cyprus Tax Deadlines

End of each month

  • Payment of tax deducted from employee’s salary (PAYE) for the previous month
  • Payment of special contribution for defence withheld on payments of dividends, interest or rent* paid for the previous month. *Companies, partnerships, the government or any local authority that pay rent have an obligation to withhold special defence contribution on the amount of the rent paid (effective from 01 July 2011)
  • Payment of Social Insurance and General Healthcare System (GeSY)- Contributions deducted from employees’ salaries for the previous month (since March 2019)

31 January

  • Submission of declaration of deemed dividend distribution declaration for the tax year ended 2 years prior to the year under review

31 March

  • Electronic submission of the Income Tax Return for Companies
  • Electronic submission of the Income Tax Return for Individuals preparing audited financial statements

30 June

  • Payment of Annual Levy of €350 to the Registrar of Companies
  • Payment of special contribution for defence in relation to rents, dividends or interest from sources outside Cyprus for the first six months of the year (also this is valid for rents received within the Republic)
  • Payment of tax balance for the previous tax year through self assessment by Individuals who don’t prepare audited Financial Statements

31 July

  • Electronic submission of the Employer’s Return for the previous tax year
  • Payment of first instalment of the provisional tax return for the current year
  • Electronic submission of personal tax returns of individuals whose incomes do not include income from a trade/ business, rents, dividends, interest, royalties.

1 August

  • Payment of the tax balance of the previous tax year through self-assessment by Individuals and Companies preparing audited financial statements

30 September

  • Submission of the personal tax returns of individuals/ sole -traders not required to prepare audited financial statements (i.e. their gross income is below €19,500/ €70,000 respectively)

31 December

  • Payment of second instalment of the provisional tax return for the current year
  • Payment of special contribution for defence for the last six months of the current tax year on rents, dividends or interest from sources outside Cyprus

Administrative penalties and interests

  • Administrative penalties of €100 or €200 may be imposed depending on the specific case. Late submission of declarations or late submission of supporting documentation requested by the Commissioner of income tax may trigger these penalties. The official interest rate, as set by the Minister of Finance through a decree and it is applicable for the whole year. The rate for 2019 was set at 2% (3,5% for 2017-2018; 4% for 2015-2016; 4,5% for 2014; 4,75% for 2013; 5% for 2011-2012; 5,35% for 2010; 8% for 2007-2009; previously 9%)