Tax Diary 2014

At the end of each month the following payments must be made

  • Payment of PAYE tax and Special Contribution that is deducted from employees’ salary must be paid to the income tax at the end of the following month. The payment includes both taxes.
  • Payment of the Special Contribution for Defense withheld on previous month’s 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 Social Insurance Contributions and Deductions to the Social Insurance department for the employees.
  • Payment of tax withheld in the preceding month on payments to non-Cyprus residents.

Until 31stof January

  • Submission of declaration of deemed dividend distribution for the year ended 31st of December 2011.

Until 10 of February

  • Payment to Social Insurance of the last quarter of 2013 (T4/2013) for the Self Employees.

Until 31stof March

  • Submission of Income Tax Returns for Self Employees that have the obligation to submit audited financial statements for 2012.

Until 30thof April

  • Submission of Individual’s Income Tax Returns (IR.1) for the year 2013 whose incomes do not include income from trade/business, rents, dividends, interest royalties or income relating to trading goodwill.

Until 10thof May

  • Payment to Social Insurance of the first quarter (T1/2014) for the Self Employees.

Until 30thof June

  • Electronic submission of the Company Tax Returns (IR.4) for the year 2012.
  • Payment of the Registrar of Companies Annual Levy of €350 for the year 2014. All the companieshave the obligation to pay the Levy.
  •  Submission of Income Tax Returns for Self-Employees that don’t have the obligation to submit audited financial statements (IR.1selfemployed) but whose incomes include income from trade/business, rents, dividends, interest royalties or income relating to trading goodwill for the year 2013.
  • Payment of the first semester for Special Contribution for Defense on the basis of rental income and on dividends or interest sources outside Cyprus, earned in the months January –June.

Until 31stof July

  • Electronic submission (Taxisnet) of Employers Analysis Report for the 2013 payroll. (IR.7 form).
  •  Electronic submission (Taxisnet) of Individual’s Income Tax Returns (IR.1) for the year 2013 whose incomes do not include income from trade/business, rents, dividends, interest royalties or income relating to trading goodwill.
  • Payment of first installment of Temporary Tax Assessment for the year 2014.

Until 1st of August

  • Payment of 2013 final corporation tax under the self-assessment method.
  • Payment of 2013 personal Income Tax under the self-assessment method by individuals who have the obligation to submit audited financial statements.

Until 10th of August

  • Payment to Social Insurance of the second quarter (T2/2014) for the Self Employees.

Until 30thof September

  • Payment of Immovable property Tax for 2014.
  • Electronic submission (Taxisnet) of Income Tax Returns for Self-Employees that don’t have the obligation to submit audited financial statements but whose incomes include income from trade/business, rents, dividends, interest royalties or income relating to trading goodwill (IR.1selfemployed) for the year 2013.

Until 10thof November

  • Payment to Social Insurance of the third quarter (T3/2014) for the Self Employees.

Until 31stof December

  • Payment of second and last installment of Temporary Tax Assessment for the year 2014.
  • Payment of the second semester for Special Contribution for Defense on the basis of rental income earned in the months July-December.

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