ARTICLES  

Extension to the filing date of tax returns

The following deadlines have been extended by the Cyprus government for the filing of tax returns by companies and individuals:

  • The last date for the filing of an individual's tax return (IR1) for the year 2020 and settlement of any tax due will be 30 September 2021 without the imposition of any penalties.
  • The last date for the filing of an employer's return (IR7) will be 30 September 2021 without the imposition of any penalties.
  • The last date for settlement of the second instalment for temporary tax for the year 2020 will be 30 September 2021 without the imposition of any penalties.

Latest news

Extension for filing of corporate tax returns

On 12 March 2021 the Tax Department issued an announcement in relation to the extension of the deadlines for the submission of the 2019 corporate income tax return and the 2019 income tax return filed by individuals preparing audited Financial Statements. The above deadlines are extended to 30 Se...…

Published: Saturday 27 March, 2021

Interest and dividends – declarations through Taxisnet

There are new declarations on Taxisnet through which Special Defence Contributions and GESY should be recorded on the payment of interest and dividends. The printed forms 61AT and 61AM are now also available in electronic form and can be submitted through the Taxisnet as follows: …

Published: Wednesday 27 January, 2021

Tax incentives for the employment of foreign individuals

In order to attract foreign employees to work in Cyprus, law was passed in 2012 giving various tax incentives up to 31 December 2020 for foreign individuals. These stated that the lower of €8.550 or 20% of the remuneration from any employment exercised in Cyprus by an individual who was resident ...…

Published: Friday 25 December, 2020