Cyprus companies provisional tax payment – year 2016

Cyprus companies are obliged to submit a provisional tax computation of their Cyprus taxable income and Cyprus tax due for the tax year 2016 by 31st July 2016.

The Cyprus tax payable based on the Cyprus taxable income is payable in two equal installments, before or at the following dates:

–          31 July 2016

–          31 December 2016

If any of the installments remain unpaid up to the due dates, 5% penalty is imposed from the due dates of payment plus annual interest in accordance with current government – public interest rate.

The computation to the taxable income can be adjusted prior 31 December 2016. If as a result of the adjustment the tax payable is increased, then the difference between the amount of adjusted installments and the initial installments bears interest from the due dates of each installment.

How can we help

We can help you to calculate and submit your Cyprus Company taxable income and pay your Cyprus tax on or before 31 July 2016 and 31 December 2016. For more information please contact our offices: info.nicosia@pkf.com.cy

June 2016 

PKF / ATCO Limited is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms. This publication is for information purposes only and should not be considered as professional advice.