Exemption from the obligation to submit an income tax return

On the 9th of July 2021, the official Gazette of the Republic of Cyprus has published the decision of the Council of Ministers of Cyprus, whereby a decree (No.288/2021) was issued exempting natural persons, whose total gross annual income is below €19.500, from the obligation to submit a personal income tax return for the tax year 2020. This is in line with the practice followed in prior years; the obligation for the submission of a personal tax return by all individual tax residents of Cyprus is expected to apply for the tax year 2021 onwards.