In 2019 Cypriot taxpayers (including companies and individuals resident in Cyprus) must declare their incomes and pay taxes within the following deadlines:
|End of each month|
|31 January||Filing of deemed dividend distribution declaration (TD623) for the tax year 2016.|
|31 March||Electronic filing of Income Tax return (TD1/TD4) for 2017 by natural persons and companies obliged to prepare audited financial statements.|
|01 August||Payment of the tax balance under self-assessment for 2018 by individuals and companies obliged to prepare audited accounts.|
Non-payment of tax within established deadline may lead to imposition of interest in the amount of 2% starting from 2019 (for 2014 – 4,5%; for 2015 and 2016 – 4%; for 2017 and 2018 – 3,5%).
Overdue filing of Income Tax Returns may lead to the imposition of a penalty equal to 100 or 200 Euro (depending on the specific case).
In case of overdue payment of tax a penalty of 5% is imposed on the unpaid amount of tax. An additional penalty of 5% is imposed if the tax remains unpaid in 2 months after the payment deadline.