Tax Calendar

End of each month
  • Payment of tax deducted from employees’ salary (PAYE) in the preceding month.
  • Payment of Special Contribution for Defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents in the preceding month.
  • Payment of tax withheld in the preceding month on payments to non-Cyprus residents.
31st January
  • Submission of declaration of deemed dividend distribution (TD623) for the year ended 31 December 2022
31st March
  • Electronic submission of the 2023 corporation tax return (TD4) for accounting periods ending on 31 December 2023 (TD4).
  • Electronic submission of the 2023 income tax return of physical persons preparing audited financial statements.
30 April
  • Payment of premium tax for life insurance companies – first installment for 2025.
31 May
  • Electronic submission by employers of the total 2024 payroll form(Form TD7).
30 June
  • Payment of Special Contribution for Defence and GHS for the first six months of 2025 on rents if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus.
31t July
  • Submission of the 2025 provisional income tax return and payment of the first installment.
  • Electronic submission of 2024 personal income tax returns and payment of 2024 personal income tax under the self-assessment by employees and pensioners, whose incomes do not include income from a trade/business, rents, dividends, interest, royalties or income relating to trading goodwill.
  • Electronic submission of 2024 personal tax returns and payment of 2024 personal income tax under the self-assessment method by other individuals who have gross income that falls under Article 5 (includes dividends, interest and profits from share dealings) and who are not obliged to prepare audited financial statements.
1st August
  • Payment of 2024 final corporation tax under the self-assessment method.
  • Payment of 2024 personal income tax under the self-assessment method by self-employed individuals preparing audited financial statements.
31st August
  • Payment of premium tax for life insurance companies – second installment for 2025.
31st December
  •  Payment of provisional tax – second and last instalment for 2025.
  • Payment of Special Contribution for Defence and GHS for the last six months of 2025 on rents if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus.
  • Payment of premium tax for life insurance companies – third and last instalment for 2025.

Notes

A physical person is obliged to submit audited financial statements if his/her annual income from trade/business, rents, dividends interest, royalties or income relating to trading goodwill exceeds €70.000. Such physical person should be paying his/her 2023 income tax by 1 August 2024 and submitting his/her electronic tax return by 31 March 2025.

Interest and Penalties

The official interest rate, as set by the Finance Minister, for all amounts due as from 1 January 2025 is 5,5% (5% for 2024, 2,25% for 2023,1,75% for 2020-2022, 2% for 2019, 3,5% for 2017- 2018, 4% for 2015-2016, 4,5% for 2014, 4,75% for 2013, 5% for years 2012 and 2011, 5,35% for the year 2010, 8% for the years 2007-2009 and 9% up to 31 December 2006). In addition to the interest, penalties are also charged depending on the circumstances.