Cyprus Tax Alert❗ The deadline for the electronic submission of the income tax return for the tax year 2021, for companies and self-employed persons whose turnover exceeds the amount of €70,000 and have the obligation to prepare audited accounts, is on 31st March 2023. Our team is at your disposal to assist with the submission...Read More

Deadline extension for the Submission of 2020 tax returns Please be informed that an amendment to the Assessment and Collection of Taxes Law has been voted and published in the Official Gazette of the Republic on 20 April 2021. In accordance with this amendment, the following deadlines have been extended to 30 September 2021: Electronic...Read More

Income Tax Return – Deadline extension The deadline for the electronic submission of the income tax return for the tax year 2019, for companies and self-employed persons whose turnover exceeds the amount of €70,000 and have the obligation to prepare audited accounts, has been extended from 31 March to 30 September 2021. Our team is...Read More

Please be informed that the deadline for the payment of SDC and GHS contributions on deemed dividends for the tax year 2018 has been extended from 31 January 2021 to 30 April 2021. Which companies are subject to SDC and GHS contributions on DDD? Any company which has not distributed at least 70% of its...Read More

Expiration of the Reduced VAT rate on the hotel sector, restaurants and passenger transport from January 11, 2021 The reduced VAT rate of 5% instead of 9% in the following services, which was valid from 1/7/2020, expired on 10/1/2021: Hotels and tourist accommodation and similar premises Restaurants and catering services Transportation of passengers by taxis...Read More

Electronic Declaration of Special Defence Contribution (SDC) withheld from Interest and Dividends The following declarations, previously only submitted in paper form to the Tax Department, have now been made available electronically and can be submitted through the TAXISnet online system: Form T.D.602- Declaration of withheld Special Contribution for Defence from Interest Form T.D.603 – Declaration...Read More