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Tax Due Dates By Month

End Of Each Month

31st January

  • Submission of the Deemed Dividend Distribution declaration (Form IR623) for the year ended 31 December 2018.

31st March

* Extended till 30 September 2021

  • Electronic submission of 2019 tax returns (Form IR4) for companies.

  • Electronic submission of 2019 tax return (Form IR1) for physical persons preparing audited financial statements.

30th April

  • Payment of premium tax for life insurance companies – 1st instalment for 2021 (Form IR199)

31st May

* Extended till 30 September 2021

  • Electronic submission of 2020 Employer’s Return (Form IR7)

30th June

  • Payment of €350 Annual Levy for the year 2021.
    * Extended till 31 December 2021

  • Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHS) on rental, dividend or interest income under self-assessment from sources outside Cyprus for the first six months of 2021 (Form IR601).

31st July

  • Electronic submission of the 2020 personal tax return (Form IR1) by individuals and payment of the relevant income tax liability.
    *Extended till 30 September 2021

  • Submission of 2021 provisional tax return and payment of the first instalment of provisional tax by both individuals and companies.

1st August

  • Payment of the 2020 tax balance by companies and individuals who submit audited accounts (Form IR158).

31st August

  • Payment of premium tax for life insurance companies – 2nd instalment for 2021 (Form IR199).

31st December

  • Payment of the second and last instalment of 2021 provisional tax.

  • Payment of Special Contribution for Defence (SDC) and General Health Contribution (GHS) on rental, dividend or interest income under self-assessment from sources outside Cyprus for the last six months of 2021 (Form IR601).

  • Payment of premium tax for life insurance companies – 3rd instalment for 2021 (Form IR199).

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 state or local authority), made to Cyprus tax residents in the previous month.

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

  • Payment of Social Insurance and General Healthcare Contributions deducted from employees’ emoluments during the previous month.

  • By the 10th of the second month after the end of the VAT period.
    Submission of VAT return and payment of VAT amount due.

  • By the 10th of the month following the end of the VAT period.
    Submission of Intrastat form.

  • By the 15th of the month following the end of the reporting month.
    Submission of VIES form for goods and services.

Penalties

An administrative penalty of up to €200 (depending on the specific case) is imposed for the late submission of either a tax return or supporting documentation requested by the Tax Commissioner.

In case of late payment of tax due, a penalty of 5% is imposed on the tax amount due. An additional penalty of 5% is imposed if the tax remains unpaid 2 months after the payment deadline.

The public interest rate applicable on late payment of taxes, as set by the Minister 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).

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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