Tax diary – Cyprus 2019

Tax diary – Cyprus 2019

31 January
• Submission of the declaration of deemed dividend distribution (Form IR623) for the year ended 31 December 2016.

31 March
• Electronic submission of 2017 tax returns (Form IR4) for companies.
• Electronic submission of 2017 tax return (Form IR1) for physical persons preparing audited financial statements.

30 April
• Payment of premium tax for life insurance companies – first instalment for 2019.

30 June
• Payment of special contribution for defence for the first six months of 2019 on rents if such tax is not withheld at source by tenant or interest from sources outside Cyprus (Form IR601).
• Payment of 2018 personal income tax under the self-assessment method by self-employed individuals not preparing audited financial statements.
• Payment of the annual levy (€350) for the year 2019.

31 July
• Electronic submission of 2018 personal income tax returns (Form IR1) and payment of 2018 personal income tax under the self-assessment of/by employees and pensioners whose incomes do not include income from trade/business, rent, dividends, interest, and royalties.
• Electronic submission of the Employer’s Return for the tax year 2018 (Form IR7).
• Submission of 2019 provisional tax assessment and payment of the first instalment.

1 August
• Payment of 2018 final corporation tax under the self-assessment method (Form IR158).
• Payment of 2018 personal income tax under the self-assessment method by self-employed individuals preparing audited financial statements.

31 August
• Payment of premium tax for life insurance companies – second instalment for 2019.

30 September
• Electronic submission of 2018 personal income tax return for self-employed individuals not required to prepare audited financial statements.

31 December
• Payment of the second and last instalment of 2019 provisional tax.
• Payment of special contribution for defence for the last   six months of 2019 on rents if such tax is not withheld at source by tenant or interest from sources outside Cyprus (Form IR601).
• Payment of premium tax for life insurance companies – third and last instalment for 2019.

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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Odysseas Melikides

Odysseas Melikides

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