Tax Due Dates by Month

31 January

  • Submission of the Deemed Dividend Distribution declaration (Form IR623) for the year ended 31 December 2018

31 March

* Extended till 30 September 2021

  • Electronic submission of 2019 tax returns (Form IR4) for companies
  • Electronic submission of 2019 tax return (Form IR1) for physical persons preparing audited financial statements

30 April

  • Payment of premium tax for life insurance companies – 1st instalment for 2021 (Form IR199)

31 May

  • Electronic submission of 2020 Employer’s Return (Form IR7)

30 June

  • Payment of €350 Annual Levy for the year 2021
  • Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHS) on rental, dividend or interest income under self-assessment from sources outside Cyprus for the first six months of 2021 (Form IR601)

31 July

  • Electronic submission of the 2020 personal tax return (Form IR1) by individuals and payment of the relevant income tax liability
  • Submission of 2021 provisional tax return and payment of the first instalment of provisional tax by both individuals and companies

1 August

  • Payment of the 2020 tax balance by companies and individuals who submit audited accounts (Form IR158)

31 August

  • Payment of premium tax for life insurance companies – 2nd instalment for 2021 (Form IR199)

31 December

  • Payment of the second and last instalment of 2021 provisional tax
  • Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHS) on rental, dividend or interest income under self-assessment from sources outside Cyprus for the last six months of 2021 (Form IR601)
  • Payment of premium tax for life insurance companies – 3rd instalment for 2021 (Form IR199)

By the end of each month

  • Payment of tax deducted from employees salary (PAYE) in the previous month
  • Payment of Special Contribution for Defence withheld on payments of dividends, interest or rents (when the tenant is a Cyprus company, partnership, the state or local authority), made to Cyprus tax residents in the previous month
  • Payment of tax withheld on payments made to non-tax residents of Cyprus during the previous month
  • Payment of Social Insurance and General Healthcare Contributions deducted from employees’ emoluments during the previous month

By the 10th of the second month after the end of the VAT period

Submission of VAT return and payment of VAT amount due

By the 10th of the month following the end of the VAT period

Submission of Intrastat form

By the 15th of the month following the end of the reporting month

Submission of VIES form for goods and services

Penalties

An administrative penalty of up to €200 (depending on the specific case) is imposed for the late submission of either a tax return or supporting documentation requested by the Tax Commissioner.

In case of late payment of tax due, a penalty of 5% is imposed on the tax amount due. An additional penalty of 5% is imposed if the tax remains unpaid 2 months after the payment deadline.

The public interest rate applicable on late payment of taxes, as set by the Minister of Finance, for all amounts due after 1 January 2020 is 1,75% (2% for 2019, 3,5% for 2018 and 2017, 4% for 2016 and 2015, 4,5% for 2014, 4,75% for 2013, 5% for years 2012 and 2011, 5,35% for the year 2010, 8% for the years 2007‐2009 and 9% up to 31 December 2006).

This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. Authors or the publishers accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.