Yearly Tax obligations in Cyprus
Tax Calendar and obligations
Here you will find the Cyprus tax calendar with the annual obligations by due dates.
If you miss a tax deadline, you might need to pay penalties and interest. To avoid such cases, do not miss any deadlines. So, for those of you who need a little help remembering when to file a return, pay a tax, or submit a report, we pulled together a list of the most essential 2022 Cyprus income tax due dates for individuals and companies.
To submit the forms, you need to fill them out electronically, and you can find them on the Cyprus Tax Portal. Also, you can make tax payments within the relevant deadline via the JCC Smart website or your online banking system.
Please note that the deadlines stipulated below may change as part of Cyprus’ economic response to covid-19. We advise all taxpayers to monitor for any relevant updates.
Tax Due Dates by month
End of each month throughout the year
- Payment of tax deducted from employees’ salary (PAYE) in the previous month. (TD61)
- Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHC) withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority in Cyprus) made to Cyprus tax residents in the previous month. (Forms TD603, TD602, TD614)
- Payment of tax withheld in the previous month on payments to non-Cyprus tax residents within the previous month (TD11).
- Payment of Social Insurance and General Healthcare Contributions (GHC) deducted from employees’ emoluments or payments during the previous month.
By the 10th of the second month following the end of the quarter
- Submission and payment of the Social Insurance Contributions (SIC) for self-employed individuals.
By the 10th of the second month after the end of the VAT period
- Submission of VAT return and payment of VAT amount due
By the 10th of the month following the end of the VAT period
- Submission of Intrastat form electronically.
By the 15th of the month following the end of the reporting month
- Submission of VIES form for goods and services
One month after the end of the quarter
- Submission and payment of the One-Stop-Shop (OSS) to the Central Bank of Cyprus for companies who provide services to individuals within the EU
31st of January
- Submission of the Deemed Dividend Distribution declaration (Form TD623) for the profits of the tax year 2019 and payment of relevant SDC contributions and General Health Contribution (GHC).
- Submission of DAC6 report for Reportable Cross-Border Transactions with triggering events between 25/06/2018 and 31/12/2021
30th of April
- Payment of premium tax for life insurance companies – 1st instalment for 2022 (Form TD199)
31st of May
- An electronic submission by employers of the employer’s revenue for the previous year (The total 2021 payroll). (Form TD7)
30th of June
- Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHC) for the first six months of 2022 on rents- if such tax is not withheld at source by the tenant and on dividends or interest from sources outside Cyprus. (Form TD601)
31st of July
(extended from 31st of March)
- Electronic submission of the 2020 corporation tax returns (Form TD4) for accounting periods ending on the 31st of December 2020.
- Electronic submission of the 2020 income tax return of physical persons preparing audited financial statements (Form TD1)
31st of July
- Submit the 2022 provisional income tax return and payment of the first instalment. (Forms TD5, TD6)
- Electronic submission of 2021 personal income tax returns (Form TD1) and payment of 2021 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 2021 personal tax returns and 2021 personal income tax payments made under the self-assessment method. Other individuals who have a gross income under Article 5 (includes dividends, interest and profits from share dealings) and are not obliged to prepare audited financial statements must make this submission and payment.
1st of August
- Payment of 2021 final corporation tax under the self-assessment method.
- Payment of 2021 personal income tax under the self-assessment method by self-employed individuals preparing audited financial statements (Form TD158)
31st of August
- Payment of premium tax for life insurance companies is the second instalment for 2021 (Form TD199)
31st of December
- Submission of the 2-22 revised provisional tax return (if applicable). Payment of provisional tax – second and last instalment for 2022. (Forms TD5, TD6)
- Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHC) for the last six months of 2022 on rents if such tax is not withheld at the source by the tenant and on dividends or interest from sources outside Cyprus. (Form TD601)
- Payment of premium tax for life insurance companies – third and last instalment for 2022 (From TD199).
31st of December
(extended from 30th of June)
- Payment of €350 Annual Levy for the year 2022 (*has been extended on the 30th of June 2022 by the parliament via amendment to law)
In the case of late submission of a tax return or supporting documentation requested by the Tax Commissioner, you get a penalty of up to 200€. This penalty depends on the specific case.
In the case of late payment of tax due, they impose a penalty of 5% on the tax amount due. In the case of late payment of VAT tax liability, they charge a penalty of 10% on the tax amount due.
They also impose an additional penalty of 5% if the tax remains unpaid two months after the payment deadline.
The public interest rate applicable on late payment of taxes, as set by the Minister of Finance, for all amounts due after 1 January 2020, is
- 1,75% for 2021 and 2020
- 2% for 2019
- 3,5% for 2018 and 2017
- 4% for 2016 and 2015
- 4,5% for 2014, 4,75% for 2013
- 5% for the years 2012 and 2011
- 5,35% for the year 2010
- 8% for the years 2007‐2009, and
- 9% up to 31 December 2006
Who is required to submit a personal tax return?
Individuals must submit personal tax returns only when their gross taxable income (salaries, rents, royalties, pensions, dividends, interest and profits from share dealings) exceeds €19.500.
Who is required to prepare audited financial statements?
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 a physical person should pay his/her 2021 income tax by 1 August 2022 and submit his/her electronic tax return by 31 March 2023.