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Tax Diary

End of each month                   -PAYE deducted from employees’ salaries for the previous month
-Defence contribution deducted from dividends, interest or rent paid in the previous month
 
*Companies, partnerships, the Government or any local authority that pay rent have an obligation to withhold special defence contribution on the amount of the rent paid
     
31 January 20X2   Submission of the deemed dividend distribution declaration for the tax year 20X4
     
31 March   Submission of return and payment of the first installment of the special tax levy by Credit Institutions for 2012
     
30 April   -Submission of personal tax returns by salaried individuals whose gross income exceeds €19.500
-Submission of employers’ return and employees’ details
-Payment of provisional tax by insurance companies (life business) for the first four months of the current year
     
30 June   -Submission of personal tax return of the previous year by individuals who do not prepare audited accounts if their gross income exceeds €19.500
-Payment of tax balance for the previous year through self assessment by individuals who do not prepare audited accounts
-Payment of special contribution for defence in relation to rents, dividends or interests from sources outside Cyprus for the first half of the current year
-Payment of the second installment of the special tax levy by Credit Institutions for the current year
     
1 August   -Submission of provisional tax assessment for the current year and payment of the first installment
-Payment of previous years’ tax balance through self assessment by individuals and companies preparing audited accounts
     
31 August   Payment of provisional tax by insurance companies (life business) for the second four months of the current year
     
30 September   -Payment of the second installment of the current years’ provisional tax
-Payment of immovable property tax for the current year
-Payment of the third installment of the special tax levy by Credit Institutions for the current year
     
31 December   -Submission of previous year’s tax returns for individuals and companies preparing audited accounts
-Payment of the third installment of the current year’s provisional tax
-Payment of special contribution for defence in relation to rents, dividends or interest from sources outside Cyprus for the second half of the current year
-Payment of provisional tax by insurance companies (life business) for the last four months of the current year
-Payment of the fourth installment of the special tax levy by Credit Institutions for current year
     
     

 

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