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Keeping a tax diary is very important if you wish to be proactive and up-to-date with your tax compliance obligations and avoid paying unnecessary interest and penalties.
Courtesy of M. Target Group, the below publication reflects all essential Cyprus tax due dates for the year 2022 by month as applicable to companies and individuals. Using this document as a reference, you always could remain up to date and know your exactly tax‐due dates so that to plan accordingly. Of course, you could pay your taxes and submit the relevant returns before the deadline, which will ensure that no interest and penalties will be imposed.
It is worth noting that all tax-related payments could only be executed electronically, either via JCCSmart portal or through e-banking.

Tax Due Dates By Month

End Of Each Month

31st January

31st March

31st May

30th June

31st July

1st August

31st December

End Of Each Month

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% (1,75% for 2021 and 2020, 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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