Cyprus companies are obliged to submit a provisional tax computation of their Cyprus taxable income and Cyprus tax due for the tax year 2015 by 31^st July 2015.

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

–          31 July 2015

–          31 December 2015

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 2015. 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 2015 and 31 December 2015. For more information please contact our offices:

info.nicosia@pkf.com.cy

July 2015

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.