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Cyprus Tax Calendar / Diary - 2022

   

End of every month

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

Payment of defence contribution withheld from dividends, interest or rents payments (by legal entities), 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 / payment of deemed dividend distribution for the Year 2019.

31st March Electronic submission of the 2020 corporation tax return. 

Electronic submission of 2020 income tax return by individuals having audited financial statements

31st    May

Electronic submission of employer's return for salaries paid in the previous year.

30th June 

Payment of defence tax for the first half of 2022 on rents (where this was not withheld at source) 

Payment of defence tax for the first half of 2022 on dividends and interest originating outside Cyprus

31st July

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

Electronic submission of 2021 personal income tax return

Payment of 2021  personal income tax under self-assessment for salaried individuals and trading individuals who are not obliged to submit audited financial statements.

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.

31st  December

Payment of the second instalment of current year provisional tax

Payment of special defence contribution for the second half of the current year on rents (if not withheld at source) 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.

All the information above is for guidance. For tax advice please get in touch with us.