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Tax information

 

Personal tax returns – up to the year 2019 an individual was only obliged under the law to file his personal tax return if his income exceeded €19.500. From year 2020 all individuals are obliged to file a personal tax return irrespective of their level of income. A revised tax return can now be filed within three years from the expiry date of the tax return's submission date.

 

Employer's return (IR7) – the submission of the Employer's return has been extended to 31 May (if filed electronically) of the year following the company's year-end.

 

Registration with tax authorities – a Cyprus company is obliged under the law to register with the Cyprus tax authorities within 60 days from its incorporation, otherwise penalties will be imposed for late registration. Now, a company although incorporated in Cyprus but is not a Cyprus tax resident entity must inform the tax authorities of this fact within 60 days from its incorporation.

Latest news

Changes in the withholding payment of Special Defense and GESY contributions

Changes in the withholding payment of Special Defense and GESY contributions on payable rents of legal entities. The Cyprus tax authorities inform that a legal entity which pays rent to an individual to 30 of June and to 31 of December of a given year, is now liable to pay the special contributio...…

Published: Wednesday 28 February, 2024

Revised Double Tax treaty between Cyprus and France

A revised treaty for avoidance of double taxation between Cyprus and France was signed on 11 December 2023 replacing the previous Treaty of 1981. The main provisions of the Treaty are as follows: Dividends: 0% withholding tax if the beneficial owner of the dividend is a com...…

Published: Wednesday 21 February, 2024

Cyprus – Croatia Double Tax Treaty

The double tax treaty between Cyprus and Croatia was signed on 17 October 2023 and ratified on 27 October 2023. Following the ratification by Cyprus, the treaty will be in effect in the year following the year in which the ratification process in the Republic of Croatia is also completed. It will...…

Published: Tuesday 23 January, 2024