Tax diary – Cyprus 2015

31 January
• Submission of declaration of deemed dividend distribution (IR623) for the year ended 31 December 2012.

31 March
• Submission of the 2013 corporation tax return (IR4) and income tax return of physical persons preparing audited financial statements.

30 April
• Payment of premium tax for life insurance companies (first installment for 2015).

30 June
• Payment of special contribution for defence in relation to rents, dividends or interest for the first half of 2015 (IR 601).
• Payment of 2014 personal tax under the self-assessment method by individuals not preparing audited financial statements (the turnover does not exceeds €70.000 annually).
• Payment of the annual levy (€350) for the year 2015.

31 July
• Submission of personal income tax return (IR1) for 2014 by individuals not preparing audited financial statements (the turnover does not exceeds €70.000 annually).
• Submission by employers of the Employer’s Return for 2014 (IR7).
• Submission of the 2015 provisional tax assessment and payment of the first installment of the provisional tax.

1 August
• Payment of 2014 final corporation tax under the self-assessment method (IR158).
• Payment of 2014 personal income tax under the self assessment method by individuals preparing audited financial statements.

31 August
• Payment of premium tax for life insurance companies (second installment for 2015).
• Payment of the immovable property tax for 2015 (with a discount of 10% on the tax due).

30 September
• Submission of personal tax return for 2014 by self-employed individuals not preparing audited financial statements.
• Payment of immovable property tax for 2015 (without a discount 10% on the tax due).

31 December
• Payment of provisional tax (second and last installment for 2015).
• Payment of special contribution for defence in relation to rents, dividends or interest for the second half of 2015 (IR 601).
• Payment of premium tax for life insurance companies (third and last installment for 2015).

End of each month
• Payment of tax deducted from employees salary (PAYE) in the preceding month.
• Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company or partnership), made to Cyprus      tax residents in the preceding month.
• Payment of social insurance deducted from employees’ salaries in the preceding month.

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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.

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