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| CYPRUS TAX DIARY 2022 |
| End of each month | – Payment of PAYE and special contribution deducted from the employees’ salary in the preceding month |
| – Payment of Special Defence Contribution withheld from rental payment, by the company, partnership, the state or local authority, in the preceding month | |
| – Payment of special defence contribution on dividends and interest paid in the preceding month | |
| – Payment of National Health System deductions and contributions | |
| – Submission of the returns T.D. 602 and T.D. 603 related to WHT deducted from interests and dividends in the preceding month | |
| 31 January | – Submission of deemed dividends distribution declaration (T.D. 623) for the tax year 2020 |
| 31 March | – Electronic submission of 2020 tax returns for companies (T.D. 4) |
| – Submission of 2020 tax returns of individuals for which audited financial statements were prepared (with turnover exceeding €70.000) | |
| 30 April | – Payment of provisional tax for the first four months of 2022 by life insurance Companies |
| 31 May | – Electronic submission of employers return for the year 2021 |
| 30 June | – Payment of special contribution of defence (for legal and natural persons) and gesy (for natural persons only) of rental income for the first half of 2022 |
| 31 July | – Submission of the provisional tax return and payment of the income tax (for legal and natural persons) and gesy (for natural persons only) of the first instalment for 2022 |
| – Submission of personal tax return of individuals for the year 2021 without audited financial statements and payment of the final tax with self-assessment | |
| – Submission of the personal tax return of individuals for 2021 and payment of the final tax with self-assessment | |
| 1 August | – Payment of the corporation tax and income tax for individuals preparing audited accounts, via self-assessment of 2021 |
| 31 August | – Payment of the provisional tax for the second four months of 2022 by life insurance companies |
| 31 December | – Payment of the second and last instalment for 2022 provisional tax (for legal and natural persons) and gesy (for natural persons only) |
| – Payment of the special contribution of defence (for legal and natural persons) and gesy (for natural persons only) of rental income for the second half of 2022 | |
| – Payment of provisional tax for the last four months of 2022 by life insurance companies |
Penalties
If the above mentioned deadlines are not kept penalties and interest are imposed. The interest rate has been set at 1.75% effective from the 1st of January 2022.
Tax returns of individuals without audited financial statements
As from 2020, the submission of tax return is compulsory for all individuals with gross income. Authorities have provided an exemption for the years 2020 and 2021.
Introduction of the Tax Portal
The new Tax Portal was introduced by the Tax Department, with the aim to provide to all taxpayers information regarding tax balances, payments and for the recording of self-assessments.
Contact us
For more information please contact us.
Email: info@pkf-nic.com
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 publication.
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, and ensuring that such advice specifically relates to their particular circumstances.
PKF Cyprus firms are member firms of the PKF International Limited network of legally independent firms and do not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.
