| End of each month |
1.Payment of tax deducted from employees salary (PAYE) in the preceding month. |
| 31st January | Submission of deemed dividend distribution declaration (TD623) for the year ended December 2016.
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| 31st March | 1.Electronic submission of company’s tax return (TD4) of 2017 for accounting periods ending on 31 December 2017. |
| 2.Electronic submission of 2017 tax returns of individuals for which audited financial statements were prepared (with turnover exceeding 70,000 Euros).
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| 30 April | Payment of premium tax for life insurance companies – first installment for 2019.
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| 30 June | 1.Payment of special contribution of defence of rental income for the first six months of 2019, if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus. |
| 2.Payment of 2018 personal income tax under the self assessment method by self-employed individuals not preparing audited financial statements.
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| 31st July | 1.First installment of provisional tax for the year 2019 on estimated taxable profits. This includes submission of the Provisional Tax Return. |
| 2.Electronic submission of 2018 personal income tax returns and payment of 2018personal income tax personal income tax under the self-assessment of/by employees and pensioners, whose incomes do not include income from a trade/business, rents, dividends, interest, royalties nor income relating to trading goodwill. | |
| 3.Electronic submission by employers of the total payroll for the year 2018(Form TD7).
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| 1st August | 1.Payment of final corporation tax for the year 2018 under the self-assessment method. |
| 2.Payment of personal income tax for the year 2018 under the self assessment method by self-employed individuals preparing audited financial statements.
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| 31st August | Payment of premium tax for life insurance companies – second installment for 2019.
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| 30 September | Electronic submission of 2018 personal tax returns of self-employed individuals not required to prepare audited financial statements.
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| 31st December | 1.Second installment of provisional tax for the year 2019, with the submission of provisional tax return. |
| 2.Payment of the special contribution of defence of rental income for the second half of 2019, if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus. | |
| 3.Payment of premium tax for life insurance companies, third and last installment for 2019. |
Notes
Physical persons are required to submit personal tax returns only when their gross taxable income exceeds €19.500.
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 2018 income tax by 1 August 2019 and submitting his/her electronic tax return by 31 March 2020.
Interest and Penalties
The official interest rate, as set by the Finance Minister, for all amounts due as from 1 January 2019 is expected to be 3,5% (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.