Tax diary – Cyprus 2018

31 January
• Submission of the deemed dividend distribution declaration (Form IR623) for the tax year 2015.

31 March
• Electronic submission of the corporation income tax return (Form IR4) for the tax year 2016.
• Electronic submission of the income tax return (Form IR1) of physical persons preparing audited financial statements for the tax year 2016.

30 April
• Payment of premium tax for life insurance companies – first instalment for 2018.

30 June
• Payment of special contribution for defence in relation to rents, dividends or interest from sources outside Cyprus for the first six months of 2018 (Form IR601).
• Payment of the 2017 personal income tax under the self-assessment method by employees and self-employed individuals not preparing audited financial statements (the turnover does not exceeds €70.000 annually).
• Payment of the annual levy (€350) for the year 2018.

31 July
• Electronic submission of the personal income tax return (Form IR1) for the tax year 2017 by salaried individuals whose gross income exceeds €19.500.
• Electronic submission of the Employer’s Return for the tax year 2017 (Form IR7).
• Submission of the 2018 provisional tax assessment and payment of the first instalment.

1 August
• Payment of the 2017 final corporation tax under the self-assessment method (Form IR158).
• Payment of the 2017 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 instalment for 2018.

30 September
• Electronic submission of 2017 personal income tax return of individuals not required to prepare audited financial statements and whose incomes include income from: trade / business, rents, dividends, interest, royalties and income relating to trading goodwill.

31 December
• Payment of the second instalment of the 2018 provisional tax.
• Payment of special contribution for defence in relation to rents, dividends or interest from sources outside Cyprus for the second six months of 2018 (Form IR601).
• Payment of premium tax for life insurance companies – third and last instalment for 2018.

End of each month
• Payment of tax deducted from employees salary (PAYE) for 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 deducted from employees’ salaries during the previous 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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