2013 Tax diary

End of each month

 

Payment of tax deducted from employees salary (PAYE) in the preceding month.
Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents in the preceding month.
Payment of tax withheld in the preceding month on payments to non-Cyprus residents.


31 JANUARY


Submission of declaration of deemed dividend distribution (IR623) for the year ended 31 December 2010.

 

31 MARCH


Electronic submission of the 2011 corporation tax return (IR4) for the accounting periods ending on 31 December 2011.

 

30 APRIL


Submission of 2012 personal returns of individuals whose income does not include income from a trade/business, income from rents, income from royalties nor income relating to trading goodwill (1).
Payment of premium tax for life insurance companies – first instalment for 2013.

 

30 JUNE


Submission of 2012 personal returns of individuals not preparing audited financial statements whose income includes; income from a trade/business, income from rents, income from royalties or income relating to trading goodwill (1) (2) and payment of tax via a self-assessment method.
Payment of special contribution for defence for the first six months of 2013 on rents and on dividends or interest from sources outside Cyprus.

 

31 JULY


Electronic submission by Employers of the total 2012 payroll (Form IR7).
Submission of provisional tax declaration and payment of first instalment of provisional tax for 2013.

 

1 AUGUST


Payment of 2012 final corporation tax under the self-assessment method.
Payment of 2012 personal income tax under the self-assessment method by individuals preparing audited financial statements (2).

 

31 AUGUST


Payments of premium tax for life insurance companies – second instalment for 2013.

 

30 SEPTEMBER


Payment of immovable property tax for 2013.

 

31 DECEMBER


Submission of 2012 tax returns of individuals preparing audited financial statements (2).
Payment of provisional tax – second and final instalment for 2013.
Payment of special contribution for defence for the last six months of 2013 on rents and on dividends or interest from sources outside Cyprus.

 

Interest and Penalties

The official interest rate, as set by the Finance Minister, is 5% per annum for all amounts due after 1 January 2011 (5.35% for the year 2010, 8% for the years 2007-2009 and 9% before 31 December 2006).
In addition to the interest, penalties are also charged depending on the circumstances.

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