Tax Due Dates By Month
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 Government or any local authority), made to Cyprus tax residents in the previous month.
- Payment of tax withheld on payments made to non-tax residents during the previous month.
- Payment of Social Insurance and General Healthcare Contributions deducted from employees’ salaries during the previous month.
31st January
- Submission of the declaration of deemed dividend distribution (Form IR623) for the year ended 31 December 2017.
30th April
- Payment of the first instalment of premium tax for life insurance companies.
1st June
(* Extended for two months from 31 March 2020)
- Payment of the first instalment of premium tax for life insurance companies.
- Electronic submission of 2018 tax return (Form IR1) for physical persons preparing audited financial statements.
30th June
- Payment of 2020 special contribution for defence (SCD) on rents, dividends or interest under self-assessment from sources outside Cyprus for the first six months of 2020 (Form IR601).
- Payment of 2020 General Health Contributions on rents, dividends or interest under self-assessment for the first six months of 2020.
- Payment of €350 Annual Levy for the year 2020 (extended until 31 December, 2020).
31st July
- Payment of 2019 personal income tax under the self-assessment method by individuals not preparing audited financial statements (employees and self-employed).
- Electronic submission of the Employer’s Return for the tax year 2019 (Form IR7).
- Electronic submission of the personal income tax returns (Form IR1) for 2019 for salaried individuals whose gross income exceeds €19,500.
- Submission of 2020 provisional tax assessment and payment of the first instalment for the both individuals and companies.
31st August
- Payment of the second instalment of premium tax for life insurance companies.
30th September
- Electronic submission of 2019 personal income tax return (Form IR1) for self-employed individuals not required to prepare audited financial statements.
- Payment of 2019 personal income tax under the self-assessment method for self-employed individuals not required to prepare audited financial statements.
31st December
- Payment of the second and last instalment of 2020 provisional tax.
- Payment of 2020 special contribution for defence on rents, dividends or interest from sources outside Cyprus for the second six months of 2020.
- Payment of 2020 General Health Contributions on rents, dividends or interest under self-assessment for the second six months of 2020.
- Payment of third and last instalment of premium tax for life insurance companies.
Penalties
The official interest rate, as set by the Ministry 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).
A penalty of 5% is imposed on the unpaid tax. An additional 5% is added if the tax remains unpaid 2 months after the payment deadline.
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.
