Target Group would like to remind that the following tax obligations, are due on or before31 December 2024:
Payment of Special Contribution for Defence (SDC) on rents, dividends or interest income from sources inside and outside of Cyprus for the second six months of 2024. This tax can be paid within one month after the deadline (i.e., until 31 January 2025) without incurring interest or penalties.
Payment of General Health Contributions (GeSy) on rents, dividends, or interest income for the second six months of 2024. This tax can also be paid within one month from the deadline (i.e., until 31 January 2025) without interest or penalties.
If the SDC is not withheld or, if withheld, remains unpaid by the end of the month following June 30 and December 31 (for the first and second semesters, respectively), an interest rate of 2.25% will be applied. Additionally, a 5% penalty will be imposed on the outstanding tax for late payment. An extra 5% penalty will be added if the tax remains unpaid two months after the payment deadline
Please refer to our Tax Calendar for the year 2024, so that not to miss any important tax due dates and deadlines.
As always, M. Target Groupspecialists remain at your disposal should you require any further information, clarification or professional assistance with any matter.
