Cyprus Tax Diary

End of each month

Payment of PAYE withheld from the employees’ salaries for the previous month
Payment of tax withheld on payments made to non-Cyprus tax residents during the previous month
Payment of special defence contribution and GHS contribution withheld from interest, dividends and rent (where the tenant is a Cyprus company, partnership, the Government or a local authority there is an obligation to withhold special defence contribution and/or GeSY on the amount of the rent paid) relating to previous month

31st January 2023

Submission of deemed dividend distribution declaration (TD623) for 2020
DAC6 Reporting deadline (through Ariadni portal) for Reportable Cross Border Arrangements (RCBAs) undertaken between 25/6/2018 and 31/12/2021

31st March 2023

Electronic submission of 2021 income tax return for companies (TD4) and individuals (TD1) preparing audited financial statements that exceeds €70.000 annually)

30th April 2023

Payment of the first instalment of the premium tax for life insurance companies for 2023

31st May 2023

Electronic submission of employers return and employees details for 2022 (TD7)

30th June 2023

Payment of special defence contribution and/or GHS contribution for the first six months of 2023 on rents if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus

31st July 2023

Electronic submission of personal tax return (TD1) for 2022 by income exceeding €19.500 and payment of personal income tax under self-assessment by employees, pensioners and self-employed individuals, who are not obliged to prepare audited financial statements
Submission of provisional tax assessment for 2023 and payment of the first instalment, by both companies and individuals (TD5, TD6)

1st August 2023

Payment of final tax for 2022 through self-assessment by companies and individuals preparing audited financial statements

31st August 2023

Payment of the second instalment of the premium tax for life insurance companies for 2023

31st December 2023

Payment of the second and final instalment of provisional tax for 2023 and submission of revised provisional tax return
Payment of special defence contribution and/or GHS contribution for the last six months of 2023 on rents if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus
Payment of the third and final instalment of the premium tax for life insurance companies for 2023

Electronic submission of tax returns

Every person (individual or company) who has an obligation to submit a tax return in accordance with the provisions of the Assessment and Collection of Taxes law must do so electronically, except in cases of revised income tax returns.

Administrative penalties

An administrative penalty of €100 or €200 (depending on the specific case), is imposed for the late submission of a tax return or late submission of supporting documentation requested by the Commissioner. In case of late payment of the tax due, a penalty of 5% is imposed on the tax due. An additional penalty of 5% is imposed if the tax remains unpaid two months after the payment deadline.

Public interest rate

The applicable annual interest rate as from 1 January 2020 is 1,75%