End of each month
Tax deducted (PAYE) from employees’
Payment of tax withheld on payments
Payment of SDC withheld on dividends, interest or rent* paid in the previous month to Cyprus tax residents
Submission of the deemed dividend distribution declaration for the year 2018
DAC6 Reporting deadline for Reportable Cross Border Arrangements (RCBAs) undertaken between 1/7/2020 and 31/12/2020
DAC6 Reporting deadline for historic
Electronic submission of 2019 income tax
Payment of the 1st instalment of the premium tax of life insurance companies for 2021
Electronic submission of the 2020 employer’s return
Payment of Special Contribution for Defence on rents, dividends or interest from sources outside the Republic for the first 6 months of 2021
Electronic submission of personal tax return for 2020 by individuals and payment of the income tax liability
Submission of the 2021 provisional tax return and payment of the first instalment of provisional tax
Payment of prior year’s income tax through self-assessment for individuals & companies preparing audited accounts
Payment of 2nd instalment of the premium tax of life insurance companies for 2021
Submission of 2021 revised provisional tax return, if applicable, and payment of the second installment of provisional tax
Payment of Contribution to the Defence Fund on rental income earned during the last 6 months of 2021
Payment of 3rd and last instalment of the premium tax of life insurance companies for 2021
10th day of the
Submission of VAT return and payment of the VAT due
By the 15th of the next month
Submission of VIES
By the 10th of the next month
Submission of Intrastat
*Tax payments made within the relevant deadline can be made via the JCC Smart website or the Tax Portal. Tax payments made after the relevant deadline can be made only via the Tax Portal
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.
All individuals who have gross income that falls under Article 5 of the Income Tax Law are obliged to submit a tax return. The Council of Ministers has the power to issue decrees which shall specify the categories of taxpayers with a total annual gross income below the taxable threshold of €19,500 that will be exempted from this obligation and may provide extensions to the submission deadline.
Submission of revised tax returns
From tax year 2016 onwards, a revised tax return can be submitted within 3 years from the submission deadline of the relevant tax return.
For tax years up to 2015, a revised tax return must be submitted by 20 February 2021.
The submission of a revised income tax return is made only through the submission of Form T.D.001AN2020.
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 interest rate applicable on late payment of taxes is set through a Decree and it is imposed on a completed month basis. The rate for 2021 is 1,75%.
The applicable interest rates for the previous years are as follows:
Up to 31/12/2006
01/01/2007 – 31/12/2009
01/01/2010 – 31/12/2010
01/01/2011 – 31/12/2012
01/01/2013 – 31/12/2013
01/01/2014 – 31/12/2014
01/01/2015 – 31/12/2015
01/01/2016 – 31/12/2016
01/01/2017 – 31/12/2017
01/01/2018 – 31/12/2018
01/01/2019 – 31/12/2019
01/01/2020 - 31/12/2020