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Cyprus Tax Calendar / Diary - 2021

   

End of each month

Payment of tax deducted from employees’ salaries (PAYE) during the previous month

Payment of defence contribution withheld from dividends, interest or rents payments (when the tenant is a company, partnership, the state or local authority), paid to Cyprus tax residents in the previous month.

Payment of tax withheld on payments made to non-tax residents during the previous month

31st January

Submission of declaration of deemed dividend distribution (TD623) for the Year 2018.

31st March Electronic submission of the 2019 corporation tax return (TD4). (Postponed to 30th September)

Electronic submission Submission of the 2019  income tax return of individuals preparing audited financial statements.(Postponed to 30th September)

31st    May

Electronic submission of employer's return (TD7) for salaries paid in previous year.

30th June 

Payment of defence tax for the first half of 2021 on rents (where this was not withheald at source)

Payment of defence tax for the fist half of 2021 on dividends and interest originating outside Cyprus

31st July

Submission of current year provisional tax return and payment of the first instalment.

1st  August

Payment by companies of previous year final corporation tax using the self-assessment method.

Payment of previous year personal income tax using the self assessment method for self-employed individuals having audited financial statements.

30th September

Electronic submission of the 2019 corporation tax return (TD4).- Extended - 30th November
Electronic submission Submission of the 2019  income tax return of individuals preparing audited financial statements - Extended - 30th November

Electronic Submission of previous year personal income tax returns  for individuals who do not p prepare financial statements - Extended - 30th November 

Payment of incoe tax for individuals who do not prepare audited financial statements 

31st  December

Payment of second instalment of current year provisional tax
Payment of special defence contribution for the second half of current year on rents and on dividends or interest from sources outside Cyprus.


Interest and Penalties

The official interest rates, as set by the Finance Minister are as follows:


Period                                          %

01/01/2020   onwards                 1.75

01/01/2019 - 31/12/2019             2.00

01/01/2017 - 31/12/2018             3.50

01/01/2015 - 31/12/2016             4,00

01/01/2014 – 31/12/2014            4,75

01/01/2013 – 31/12/2013            4,75

01/01/2011 – 31/12/2012            5,00

01/01/2010 – 31/12/2010            5,35

01/01/2007 – 31/12/2009            8,00

Up to               31/12/2006          9,00

In addition to interest, penalties for late filing of returns and/or late payment of tax are charged by the department of Inland revenue.