According to the Cyprus Income Tax Law, Cyprus companies have the obligation to submit a temporary tax assessment/estimation of their 2019 chargeable income
The temporary tax assessment/estimation is payable in two equal installments, before or at the following dates:
– 31 July 2019
– 31 December 2019
A 10% surcharge is imposed on the difference between the tax as finally determined in the relevant annual report (financial statements) and the temporary tax assessment/estimation when the temporary assessment/estimation is less than 75% of the chargeable income. Revised tax assessment/estimations can be submitted at the Cyprus Tax department on or before 31 December 2019
Cyprus Companies that pay their taxes after the due dates penalty and interest are imposed.
If according to the company’s estimates there is no taxable income or any tax due, the Cyprus Company is not required to make a declaration.
The settlement of Cyprus companies’ provisional tax payment done through JCCSmart website
Cyprus companies provisional tax online payment for the year 2019
The settlement of Cyprus companies’ provisional tax payment is done through JCCSmart website through the following link:
https://www.jccsmart.com/
Please follow the instructions below for the payment through the JCCSmart website.
Instructions for the online payment of Cyprus Companies provisional tax for the year 2019 through JCCSmart website:
1) Click on the following link https://www.jccsmart.com/
2) If you retain an account with JCCSmart please skip steps 3 and 4 and move to step 5. If not, please follow steps 3 and 4 to create one
3) Click on the link ‘NEW CLIENT’ and input all required data in the fields provided and click the link ‘REGISTER’ – your account has been created
4) Then repeat the procedure from step 1
5) Input your email address and the password to log in the system
6) Click on the “tax department” icon
7) Click on the “SELF ASSESSMENTS” and click “Click to view category”
8) Click on the “TEMPORARY Self Assessment – (0200)” and click “Click to view category”
9) Click on the “Income Tax (Individuals and Legal Persons – 0200)” and click “Click here to pay the invoice”
10) Then input relevant details requested including TIC (Tax identification number) taxpayers name, contact telephone number, relevant tax year and tax payment amount relating to the second tax installment
11) Then input your card’s details according to the required fields for the completion of the transaction
Contact us
Please contact us if you need any assistance in calculating your Cyprus Company taxable income and tax payments
Email: info@pkf-nic.com
Telephone + 357 22 462727
The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this document. Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors
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