Tax Diary

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TAX DIARY 2019
 
 
Date/Deadline Obligation Form
End of each month Tax deducted (PAYE) from employees’ salaries for the previous month TD61
Contribution to the Defence Fund deducted from dividends, interest or rent TD601
Social Insurance and other contributions deducted from employees’ salaries  
Payment of tax withheld on payments made to non-tax residents during the previous month TD11
31 January Submission of the deemed dividend distribution declaration for 2016 TD623
31 March Electronic submission of 2017 income tax return for individuals and companies preparing audited accounts TD1/TD4
 
30 April
Payment of the 1st instalment of the premium tax of life insurance companies for 2019 TD199
30 June Payment of Special Contribution for Defence on rents, dividends or interest income earned during the past 6 months TD601
Payment of income tax balance for 2018 through self-assessment by individuals who do not prepare audited accounts TD158
31 July Electronic submission of personal tax return for 2018 by salaried individuals whose gross income exceeds €19.500 TD1
Electronic submission of employers’ return and employees’ details for 2018 TD7
Submission of provisional tax assessment for 2019 and payment of the 1st installment TD5,TD6
1 August Payment of prior year’s income tax through self-assessment for companies & individuals preparing audited accounts TD158
31 August Payment of 2nd instalment of the premium tax of life insurance companies for 2019 TD199
30 September Electronic Submission of personal tax return for 2018 by individuals (self-employed) not preparing audited accounts if their income exceeds €19.500 TD1
 
 
 
 
31 December
Submission of 2019 revised provisional tax return, if applicable, and payment of the second installment of 2019 provisional tax TD5,TD6
Payment of Contribution to the Defence Fund on rental income earned during the past 6 months TD601
Payment of 3rd and last instalment of the premium tax of life insurance companies for 2019 TD199
10th day of the 2nd month after the end of the VAT period Submission of VAT return and payment of the VAT due VAT4
By the 15th of the next month Submission of VIES VIES1
By the 10th of the next month Submission of Intrastat Intrastat1.1
Intrastat1.2
 
 
 
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 the case of late payment of the tax due, an additional penalty at the rate of 5% is imposed on the unpaid tax.
 
Public interest rate
 
The public interest rate for late payment of tax is set by the Minister of Finance though a decree and it is applicable for the whole year. 
The applicable interest rates for the previous years are as follows:
 
 
Period Interest rate %
Up to 31/12/2006 9
01/01/2007 – 31/12/2009 8
01/01/2010 – 31/12/2010 5,35
01/01/2011 – 31/12/2012 5
01/01/2013 – 31/12/2013 4,75
01/01/2014 – 31/12/2014 4,5
01/01/2015 – 31/12/2015 4
01/01/2016 – 31/12/2016 4
01/01/2017 – 31/12/2017 3,5
01/01/2018 – 31/12/2018 3,5
01/01/2019 – 31/12/2019 2,0
 
 
 
NOTE: For more information and assistance please feel free to contact us at info@acs.com.cy