Tax Calendar

April

Submission of Income Tax Return by individuals (deadline extended by 3 months in case of electronic submission) (I.R.1)

Submission of employer’s return (electronic submission) (I.R.7)

30 June

Submission of Income Tax Return by individuals why do not submit audited accounts but are obligated to issue invoices, receipts, etc (deadline extended by 3 months in case of electronic submission) (I.R.1)

Payment of tax balance for the previous year by individuals who do not submit audited accounts but are obligated to issue invoices, receipts, etc.

Payment of Contribution to the Defence Fund on rental income received during the first half of the current year (I.R.601)

01 August

Submission of Temporary Tax Assessment for the current year (I.R.6)

Payment of first installment of tax based on the Temporary Tax Assessment

Payment of the tax balance for the previous year (I.R.158)

30 September

Payment of Immovable Property Tax (I.R.301) (I.R.302)

31 December

Submission of Company Income Tax Return (deadline extended by 3 months in case of electronic submission (I.R.4)

Submission of Tax Return, accounts and additional information by individuals who submit audited accounts (deadline extended by 3 months in case of electronic submission) (I.R.1)

Submission of revised Temporary Tax Assessment for the current year, if necessary (I.R.6)

Payment of second instalment of tax based on the Temporary Tax Assessment

Payment of Contribution to the Defence Fund on rental income received during the second half of the current year (I.R.601)

By the end of the next month

Payment of tax deducted from employees emoluments (I.R.61)

Payment of Contribution to the Defence Fund withheld from dividends, interest and rents (I.R.601)

Payment of Social insurance deducted from employees emoluments (Y.K.A. 2-002)

Within 30 days

Payment of Capital Gains Tax

Within 60 days

Obtaining a Tax Indentification Code: Following the registration or incorporation of a company with the Registrar of Companies, the company is obliged to submit an application for registration with the Inland Revenue Department. Similar rules apply in the case of companies incorporated outside Cyprus that become tax resident of Cyprus (I.R.62)

Within 60 days period of such change

Notification of changes of companies details (i.e registered office, activities, auditors etc) (I.R.162)

Four months from the month of the transaction

Updating of books and records by businesses which are obliged to keep accounting books

Within 30 days

Issuance of invoices within 30 days from the date the transaction was made, unless the taxable person requests in writing and receives such extension from the Commissioner

At the end of the financial report

Stock taking must be conducted annually by businesses which have inventory

Within the timeframe specified by the tax authorities

Submission of information requested in writing by the tax authorities