As from July 2017, Cyprus Income Tax Law (Ν.119 (Ι)2017) has been amended and became effective as from 1 January 2017, allowing to an individual to acquire Cyprus tax residency by staying only 60 days in Cyprus, under certain conditions, . An individual who meets all the conditions listed below with respect to a given tax year will be deemed tax-resident in Cyprus.

The preconditions

All of the following criteria must be met by an applicant:

• He/she remains in Cyprus for at least 60 days for one or more periods during the tax (calendar) year;  and
• He/she carries out any business in Cyprus; and/or works in Cyprus and/or holds an office in a company which is tax resident in Cyprus during the tax year; and
• He/she maintains a permanent residence in Cyprus (owned or rented); and
• He/she do not reside in any other single state for a period exceeding 183 days, and
• He/she is not tax resident in any other state.

A person who satisfies these criteria can receive a tax residence certificate by submitting written application and supporting evidence documentation.

Main benefits for an individual that chooses to become Cyprus tax resident

Individuals who are Cyprus tax residents, whether under the “60 day rule” or under the “183 day rule” are taxed in Cyprus on their worldwide income, however certain exceptions apply, as follows:

• A Cyprus tax resident individual but non-domiciled in Cyprus is exempt in Cyprus from taxation on his/her worldwide dividend and ‘passive’ interest income (eg interest and rental income). Read more in our website ‘Cyprus Non-Domiciled Tax Status’.
• Profit from the sale of securities is exempt from tax in Cyprus.  ‘Securities’ include, inter alia, shares in local or foreign companies, bonds, debentures, options etc, except in cases where the value of the shares derives from the value of immovable property in Cyprus.
• An individual who is going to be employed in Cyprus and his/her income will exceed €100.000, and, provided that he/she has not been a tax resident of Cyprus prior to the commencement of his/her employment in Cyprus, he/she will enjoy 50% discount on his/her income tax in Cyprus, for a period of 10 years.
• Income from employment carried out outside Cyprus is exempted from Cyprus income tax, provided that the employment exercised outside Cyprus exceeds 90 days per tax year.

Calculation of the days of residency in Cyprus

• The day of departure from Cyprus is considered as a day outside of Cyprus;
• The day of arrival in Cyprus is considered as a day in Cyprus;
• Arrival in Cyprus and departure from Cyprus within the same day is considered as one day in Cyprus;
• Departure from Cyprus and return to Cyprus within the same day is considered as one day outside of Cyprus.

Cyprus is a tax-efficient EU Intellectual Property location. It offers full international protection for IP assets and significant financial benefits.

Choosing the right location for the centralization and management of IP is a very important strategic business decision.  Cyprus could be the ideal location to safeguard and protect an organisation’s IP and contribute to its tax optimization. Cyprus IP legislation is applied in line with the OECD's guidance and reviewed and assessed according to the EU Code of Conduct.

Cyprus Intellectual Property (IP) Regime - Main Benefits

Cyprus IP Box Regime protects the IP but also economic-tax benefits.

Tax benefits of Cyprus IP companies

• 80% of worldwide royalty income generated from IP owned by Cypriot resident companies (net of any direct expenses*) is exempt from income tax.
• 80% of profit generated from the disposal of IP owned by Cypriot resident companies (net of any direct expenses*) is exempt from income tax.
• any expenditure of a capital nature for the acquisition or development of IP is claimed as a tax deduction in the year in which it was incurred and the immediate four following years on a straight-line
• All the above exemptions are also available for IPs acquired or developed before January 2012.

Cyprus’ wide double tax treaty network and access to the EU Interest and Royalty Directive serve as additional means for the group to achieve tax optimization when it comes to IP exploitation through Cyprus.

Other Benefits of Cyprus IP Companies

Resting on a sound legal system based on Common Law principles and being a signatory to International Conventions on the Protection of Intellectual Property, Cyprus’s IP tax regime is considered the most favourable in Europe, affording the maximum protection, stability, and assurance for IP owners.

The IP regime has been reviewed by the EU Code of Conduct and has been assessed as fully compatible with EU standards

Reasons to Protect Your Organisations Intellectual Property (IP)

Protecting your IP is a must in the digital age. It is the only legal way to avoid having your unique ideas, products, or services copied or used without permission.

• Intellectual Property (“IP”) can be one of the most valuable assets of an organization, which may be sold or used for other commercial purposes for a fee.
• By granting a patent, you acquire exclusive rights to use and exploit your invention.

A patent is granted by the Intellectual Property Section https://www.intellectualproperty.gov.cy/en/

Qualified IP Assets

Eligible IP assets shall include a wide range of intangibles including: Copyrights, Patented inventions, Trademarks.

How P. Kalopetrides & Co. can assist you?

• Cyprus IP holding structures and initial set-up
• Corporate statutory compliance matters
• Existing IP – tax efficient transfer to Cyprus IP company
• Eligibility of tax depreciation
• IP-related substance
• Ongoing corproate and statutory complianace matters.

P.Kalopetrides & Co.

Contact us to find out how to protect your assets.

Book a preliminary teleconference consultancy meeting.

Contact us by email: This email address is being protected from spambots. You need JavaScript enabled to view it. or Tel: +357 22 669017

^{CYPRUS: Non–Domicile Tax Rules & Relocation}

^{It offers many opportunities and several benefits for businesses and individuals to work fully or partly from Cyprus.}

Cyprus with its attractive tax regime, great quality of life, and stable political climate, could be an ideal location to reside. The various tax exemptions can certainly be utilized to effectively structure your tax liability.

The 60-day Rule combined with the applicable ‘Non-Dom’ regime has proven extremely popular with location-independent entrepreneurs, business people, investors or Digital Nomads
(people working remotely; ask for further information), and family Cyprus Non-domicile Status.

In case of receipt of passive income may be eligible for a Non-dom Status. The latter allows Cyprus tax resident individuals, not born in Cyprus and have not lived in Cyprus to benefit from
a complete 17-year exemption from taxes, that is Special Defence Contribution (SDC), levied on interest and dividend income. A zero-tax rate on passive income is surely a preferred bonus
over the standard 17% rate on dividends and a 30% rate on interest income for Cyprus-domiciled individuals.

Main Tax Benefits for an Individual that Chooses to Become a Cyprus Tax Resident 

Individuals who are Cyprus tax residents, whether under the “60-day rule” or under the “183-day rule” are taxed in Cyprus on their worldwide income, however, certain exceptions apply, as follows:

• A Cyprus tax resident individual but non-domiciled in Cyprus is exempt in Cyprus from taxation on his/her worldwide dividend and ‘passive’ interest income (e.g. interest and rental
  income) under the ‘Cyprus Non-Domiciled Tax Status’ (as above).
  
• Profit from the sale of securities is exempt from tax in Cyprus. ‘Securities’ include, inter alia, shares in local or foreign companies, bonds, debentures, options, etc., except in cases
  where the value of the shares derives from the value of immovable property in Cyprus.
  
• The 50% exemption rule:
  Individuals who take up employment in Cyprus with an annual income in excess of €100.000 will be eligible for an exemption from taxation of 50% of their income for a period of 10
  years, commencing from the year of employment, provided that he/she has not been a tax resident of Cyprus three out of the five years preceding the year of employment.
  
• The 20% exemption rule: Individuals who take up employment in Cyprus and were not tax residents in Cyprus prior to commencing such employment will be eligible for an exemption from taxation of 20% of their income or €8.550 (whichever is lower) from any employment which is exercised in Cyprus.
  
• Income from employment carried out outside Cyprus is exempted from Cyprus income tax, provided that the employment exercised outside Cyprus exceeds 90 days per tax year.
  
• Low Tax Rate in respect of Foreign Pensions, taxed in Cyprus at the flat rate of 5% for amounts more than €3,420.
  
• No inheritance tax, no wealth tax, no gift taxation, no immovable property taxes.

Further Benefits

• Right to live and work anywhere in the EU, if you are an EU citizen.
• Access to the country’s excellent healthcare system and high educational standards.
• Safe country and excellent lifestyle.
  

Definition of Non-Domiciled Persons

In accordance with the provisions of the wills and Succession Law, there are two kinds of domicile:

- The domicile of origin, which is received at birth (generally depending on the father’s side), or
- The domicile of choice, which is acquired by a physical presence in a particular place and by demonstrating a sufficient intention to make it the place of permanent residence.

 Tax Residency Rules for Individuals

A person who satisfies any of the below criteria can receive a tax residence certificate by submitting a written application and supporting evidence documentation.

• The 183 days rule: A person resides in Cyprus for one or more periods exceeding a total of 183 days in the tax year.
  
• The 60 days rule: A person resides in Cyprus for at least sixty (60) days in the tax (calendar) year. Moreover, need to meet all the below criteria:
  

1. He/she carries out any business in Cyprus; and/or works in Cyprus and/or holds an office in a company that is tax resident in Cyprus during the tax year; and

2. He/she maintains a permanent residence in Cyprus (owned or rented); and

3. He/she does not reside in any other single state for a period exceeding 183 days, and

4. He/she is not a tax resident in any other state.

Next Step

Book a preliminary teleconference consultancy meeting. Our experienced team can assist you with the procedures of obtaining Cyprus Tax Residency status & Advisory for Relocation.

This email address is being protected from spambots. You need JavaScript enabled to view it. | Tel: +357 22 669017.

DIGITAL NOMADS

 An Attractive Visa Scheme in Cyprus

Digital nomads, as the term implies, are people who work remotely from anywhere in the world, using digital technology to perform their job. This coincides with the worldwide trend of the companies that adopted widely “Remote working”.

The Government of the Republic of Cyprus introduced a specific visa programme, with several incentives for people who would like to take advantage of all the benefits of living on the island, while working for companies who operate outside the country.

What is the "Cyprus digital nomad visa"?

 The "Cyprus Digital Nomad Visa" Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, toreside temporarily in Cyprus and work for an employer registered abroad orprovide servicesfor companies or clientslocated abroad

The Scheme’s goal is to strengthen Cyprus as a center for the provision of electronic services, where in combination with the other advantages offered, the attraction of digital nomads will contribute to the development of the business ecosystem andconsequently to the economic development of the country. The introduction of the "Cyprus Digital Nomad Visa Scheme" is included in the Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus.

Main Benefits to Non-EU or non-EEA Nationals

 Can perform work remotely through telecommunications technology;

 Are employed by their own company or another company registered abroad, for which they can work location-independently, or are self-employed offering services remotely for clients located abroad;

 Can prove that they have stable and sufficient monthly net income of at least €3.500 (after the deduction of contributions and taxes).

What are the benefits of the digital nomad scheme?

Individuals that are granted a Digital Nomad residence permit will benefit from the following:

 Right of residence for a year in Cyprus, with a possibility of renewal for further two years.

 Right of residence for family members, for the same period as the Digital Nomad, without the right to be employed of perform economic activity in Cyprus.

 If they reside in the Republic for one or more periods that in total exceed 183 days within the same tax year, then they are considered tax residents of Cyprus, provided they are not tax residents in any other country. In this way, one can be eligible for a good number of tax benefits (request further information).

Family members

 Digital Nomad’s family members can reside in Cyprus for the same period as the Digital Nomad, without the right to be employed or perform any economic activity in Cyprus.

 Family members include the spouse/ partner in a civil union and underaged children.

 Family members also need to obtain a temporary residence permit following the procedure below.

Requirements

There’s a minimum threshold of funds coming from abroad (supported by salary, bank statements, etc) set to €3.500 per month, an increase of 20% for the spouse and by 15% for any minor child.

Medical insurance covers in-patient, out-patient, and transportation of mortal remains.

Declaration, that the applicant and his dependent family members, do not intend to work, or to provide services or be engaged in any form of business with any companies or clients located in Cyprus.

Clean criminal record certificate from the country of residence.

Must have suitable accommodation in the Republic of Cyprus

Procedure

 Within 3 months of arrival, the applicant should submit the relevant application along with the required documents, to the Migration Department in Nicosia. All documents accompanying application forms should be officially translated and duly certified/ ratified.

 Applications can be submitted personally or through an authorised representative.

 For the issuance of the temporary residence permit capturing biometric data (photo and fingerprints) and the signature of the third country national is necessary, which is done with the presentation of the application submission receipt and a valid travel document.

Examination time

The time of examination is between 5 – 7 weeks from the time of submission.

Duration of temporary residence permit

  A first temporary residence permit is issued with a validity of one year. In case of renewal, the temporary residence permit is issued with a validity of maximum two years.

A first temporary residence permit is issued with a validity of one year. In case of renewal, the temporary residence permit is issued with a validity of maximum two years.

Next Step

Book a preliminary complimentary teleconference consultancy meeting.    Contact us by email: This email address is being protected from spambots. You need JavaScript enabled to view it. or call at +357 22 669 017

FORBES - ΑΦΙΕΡΩΜΑ-ΕΛΕΓΚΤΙΚΑ ΓΡΑΦΕΙΑ-ΣΥΜΒΟΥΛΟΙ ΕΠΙΧΕΙΡΗΣΕΩΝ

Ολοκληρωμένες, Πρωτοποριακές

Λογιστικές - Φορολογικές και Οικονομικές Υπηρεσίες

Κάτω από την Ίδια Στέγη

Ο κόσμος αλλάζει με πρωτοφανή ρυθμό - τίποτα δεν είναι στατικό, βέβαιο ή προβλέψιμο.  Πολλές επιχειρήσεις αγωνίζονται να προσαρμοστούν στους νέους κανόνες της ψηφιακής εξέλιξης, τους συνεχώς μεταβαλλόμενους κανόνες εμπορίου και απασχόλησης, καθώς και τη συνεχή αλλά απαραίτητη εξέλιξη της επιχειρηματικής μας πραγματικότητας. 

Η επιτυχία στο σημερινό κόσμο είναι κάτι περισσότερο από τη διαχείριση αυτών των αλλαγών. Αφορά την ικανότητα της δεκτικότητας της καινοτομίας και της έμπρακτης εφαρμογής αλλαγών. Η ικανότητα της προσαρμογή στρατηγικών και συστημάτων κατά τις αντιξοότητες είναι κρίσιμη για οργανισμούς που θέλουν να παραμείνουν ανταγωνιστικοί στο συνεχώς μεταβαλλόμενο επιχειρηματικό περιβάλλον του σήμερα.

Ο στόχος δεν είναι απλά η επιβίωση αλλά η ευημερία.

Η αδράνεια δεν είναι λύση. Η Π. Καλοπετρίδης & Σια, με τα σοβαρά εφόδια που κατέχει όπως η μακρόχρονη εμπειρία της από το 1962, οι σφαιρικές υπηρεσίες που προσφέρει σε όλο το οικονομικό φάσμα της επιτόπιας αλλά και της διεθνής αγοράς, εφαρμόζει πρακτικά και δομημένα Σχέδια Αντιμετώπισης Κρίσεων εξατομικευμένα στις συγκεκριμένες συνθήκες/ ανάγκες της κάθε επιχείρησης και πάνω από όλα με ανθρώπινη προσέγγιση.

Οι υπηρεσίες μας περιλαμβάνουν:

1. Ελεγκτικά – Ειδικοί Έλεγχοι – Εσωτερικοί Έλεγχοι.
2. Φορολογικές και Συμβουλευτικές υπηρεσίες. Διεθνής φορολογικός προγραμματισμός.
3. Τεχνοοικονομικές μελέτες.
4. Πρακτικά Σχέδια Αντιμετώπισης Κρίσεων.
5. Συμβουλευτικές Υπηρεσίες: ανάπτυξη επιχειρήσεων, οικονομική διαχείριση, επαλήθευση δανείων, αναδιάρθρωση δανείων οφειλών, μελέτες ρευστότητας, οικονομοτεχνικές συμβουλευτικές υπηρεσίες.
6. Τραπεζικά-Δανεισμοί, ευρωπαϊκά σχέδια χρηματοδότησης, μελέτες σκοπιμότητας/ βιωσιμότητας.
7. Λογιστικά, Φ.Π.Α., Μισθολόγια.
8. Ανάπτυξη εργασιών στο εξωτερικό.
9. Διαχείριση οικογενειακής επιχείρησης και ιδιοκτησίας, σχεδιασμό διαδοχής επιχείρησης και ιδιοκτησίας.
10. Στρατηγικές και επενδυτικές συμβουλές, άντληση κεφαλαίων κίνησης ή για επενδύσεις ή/ και επέκταση.
11. Υπηρεσίες μετανάστευσης.

Η Π. Καλοπετρίδης & Σια, είναι µέλος του Συνδέσμου Ορκωτών Λογιστών Κύπρου (ΣΕΛΚ) και του Διεθνούς Σώματος Εγκεκριμένων Λογιστών του Ηνωμένου Βασιλείου (ACCA) καθώς και του Ars Legis International η οποία είναι μια άκρως αξιόπιστη διεθνής ένωση δικηγόρων, ελεγκτών και φοροτεχνικών συμβούλων σε είκοσι δύο χώρες.

Η πανδημία του COVID-19 έφερε τα πάνω κάτω σε όλο το κόσμο. Ωστόσο, μετά την επαναλειτουργία των επιχειρήσεων, φαίνεται πως οι προτεραιότητες μας παραμένουν οι ίδιες, ο φακός όμως μοιάζει να είναι διαφορετικός, οπόταν χρειάζεται να επαναπροσδιορίσουμε τους στόχους μας σε σχέση με τις κατάλληλες ενέργειες προσαρμοσμένες στις οικονομικές και άλλες συνθήκες. Ίσως να χρειαστεί να αναδιατυπώσουμε και μεταρρυθμίσουμε τις στρατηγικές μας.

ΕΠΙΔΙΩΞΗ μας παραμένει η πλήρη και ουσιαστική στήριξη των κυπριακών επιχειρήσεων ώστε να αντιμετωπίσουν πιο αποτελεσματικά το σημερινό σύνθετο και ανταγωνιστικό επιχειρηματικό περιβάλλον, το ντόπιο και ξένο συναγωνισμό καθώς και τις προκλήσεις/ δυσκολίες των καιρών.

Άδωνης Καλοπετρίδης, FCCA

Π. ΚΑΛΟΠΕΤΡΙΔΗΣ & ΣΙΑ

Χριστόδουλου Σώζου 2, Πύργος Άιφελ, 7ος όροφος

1096 Λευκωσία, Κύπρος

Τηλ: +357- 22 669 017 Φαξ: +357-22 665297

Ηλεκτρονική Διεύθυνση: This email address is being protected from spambots. You need JavaScript enabled to view it.

www.pkalopetrides.com.cy

The economy worldwide, following the pandemic of COVID-19, has major issues to face.

Likewise, the Investors and Shareholders need to re-assess and re-set their strategies. Part of such re-assessment can be the issue of relocation of head-quarters or part of their company or group functions. Such decision may result in serious tax savings.

Evaluation of Issues in the decision of Relocation

Re-location is a major issue. Below the main questions are pin-pointed to assist in the decision if re-location is appropriate and beneficial for a company and consequently which jurisdiction is the most suitable:

• What are the major financial difficulties the company/ group is currently facing after the pandemic?
• How the company/ group is responding to the current financial difficulties?
• Will a re-location assist in eliminating such negative consequences?
• Will this fall in the immediate but also in the long run strategies of the company/ group?
• Which jurisdictions may provide the best suitable solution for re-location?
• What other investment opportunities a jurisdiction provides?
• Is it fully understandable the difference between tax haven jurisdictions to tax incentive jurisdiction?
• Could Cyprus be the best suitable solution for re-location?

It goes without saying, that the assessment process and the decision should be based on high legal and ethical standards.

What is the difference between tax haven and tax incentive jurisdiction?

Tax heaven jurisdiction is considered any country that offers minimum or no tax obligations to foreign investors and individuals.

A tax haven is generally an offshore country that offers foreign individuals and businesses little or no tax liability. Tax havens also share limited or no financial information with foreign tax authorities. The lack of transparency and of reporting systems result to reputational risks. The international authorities scrutinize activities through such jurisdictions by established alert and notification systems.

Tax incentive jurisdiction, Cyprus is considered to be one of the countries with decent tax on profits. Tax resident corporations and individuals are established if they pass the substance test and they need to obey to legal and reporting statutory obligations as foreseen by law.

A tax incentive county offers effective tax burden and has on place an exchange of information with other national tax authorities. By such Companies/ Groups enjoy a good reputation and smooth running of operations.

Why Cyprus is considered an attractive tax incentive jurisdiction?

Cyprus is a transparent EU country with a harmonized tax system following recommended OECD practices. It is a well-established and renowned financial and business incentives centre. Cyprus offers the opportunity that Investors/ Shareholders are looking for to create value. It processes all quantitative and quantitative characteristics offering a steady tax environment making it attractive to businesses and investors for over four decades now.

• Legal system based on English law and well versed in international commercial law
• High value telecommunications and logistics services
• Culture and government sympathetic to investors an non-residents
• Good working conditions
• Safe and good quality life

Key Features of Cyprus Tax Incentives

During the past few years Cyprus extended the tax incentives that would provide companies and their shareholders, benefits from investing into Cyprus companies (Cyprus company formation https://www.pkalopetrides.com.cy/index.php/cyprus-companies) and relocate their activities in the country:

• Enjoys the tax benefits of EU Directives (Parent – Subsidiary Directive and Interest and Royalties Directive).
• Extensive double tax treaties network with 65 countries.
• Corporate tax rate of 12,5%, one of the lowest within the EU with possibility to enjoy a much lower effective tax rate.
• Availability of a National Interest Deduction for companies receiving new equity funding. The tax deduction can reach up to 80% of the taxable income produced by employing the new equity funding.
• IP Box regime based on the nexus approach which allows 80% deemed deduction on qualifying profits from the business use of IP.
• Attractive Tonnage Tax (TT) regime to ship owners, managers and charters.
• NO Taxation on Dividends received, capital gains on shares, net asset value of a fund.
• Profits of a foreign Permanent Establishment exempt from tax.
• Most international transactions free of VAT.
• Unilateral credit relief for foreign taxes.
• Carry forward of tax losses for five years.
• Tax incentives for expatriate employees taking up employment in Cyprus (up to 50% of employment income for individuals earning more than €100k per annum).
• Dividend income and interest income exempt from tax for non-domiciled individuals taking up tax residency in Cyprus.
• Possibility to obtain Cyprus tax residency by spending only 60-days in Cyprus (subject to conditions).
• No immovable property tax.
• No inheritance tax.

You can also refer to: https://www.pkalopetrides.com.cy/index.php/tax-in-cyprus

Investment Opportunities in Cyprus Post-COVID-19

The major opportunities Cyprus is offering for investment nowadays are listed below:

• A reduction of specific immovable properties that might reach 50% reduction that can give up to 6% annual return if rented in the short term or sold at a higher price in the medium - long term.
• Cyprus is well positioned to support Businesses/ Investors on capitalizing in above mentioned opportunities.
• Possibility to obtain Cyprus tax residency by spending only 60-days in Cyprus (subject to conditions).
• Possibility of gaining Cyprus Citizenship. Non – EU citizens may apply for the acquisition of the Cypriot citizenship through the Cyprus Investment Programme, if they meet the economic criteria of the Programme. Obtaining a Cyprus citizenship means free movement, residency and access to employment and education within the European Union: https://www.pkalopetrides.com.cy/index.php/immigration-cyprus

Next Step

Book a Complimentary Preliminary Teleconference Consultation Meeting now! Contact us by email (This email address is being protected from spambots. You need JavaScript enabled to view it.) or Telephone (+357 22669017) for arrangements.

As from 1 January 2019 both employer and employee Social Insurance Contributions will increase by 0,5%, from 7,8% to 8,3%.

Additionally, the Social Insurance Contributions payable by self-employed individuals will increase by 1%, from 14,6% to 15,6%. Depending on the profession or trade of the self-employed individual the contributions are based on lower and maximum limits which are set on an annual basis.

	31/01	31/03	30/04	31/05	30/06	31/07	01/08	31/08	31/12
Submission of declaration of deemed dividend distribution (TD 623) for the profits of 2020 and payment of SDC and NHS.
Electronic submission of the income tax return for tax year 2021 for companies (TD 4)
Electronic submission of  income tax  return of physical persons preparing audited financial statements for 2021 (TD 1).
Payment of premium tax for life insurance companies 1st, 2nd & 3rd instalment for 2023 (TD 199).
Electronic submission of the 2022 employer’s return (TD 7)
Payment of Special Defence Contribution (SDC) & NHS (if payment is made to Cyprus tax resident individual) of 2023 (semester) on rents if such tax is not withheld at source by tenant and on dividends or interest from sources outside Cyprus (TD 604, 612, 613).
Payment of Annual Levy €350 by Companies to the Registrar of Companies for 2023.
Electronic submission of 2022 personal tax returns of individuals (employees and pensioners) and payment of income tax liability through tax portal (codes 200 & 2013).
Submission of the 2023 provisional tax return and payment of first and second installments of tax through tax portal (code 300).
Payment of 2022 final tax balance under the self - assessment method by companies and payment of personal income tax under the self-assessment method by individuals preparing audited financial statements through tax portal (code 300).
Payment of tax deducted from employees salary (PAYE) TD 61.		By the end of each month for the previous month.
Payment of employee social security contributions and National Health System (NHS).
Payment of tax withheld in the preceding month on payments to non-Cyprus residents.

Notes:
1. Tax Returns can only be submitted electronically.
2. Tax payments can only be made electronically.
3. Revised tax returns can be submitted from tax year 2018 onwards, within 3 years from the submission deadline.

4. An administrative penalty of €100 or €200 (depending on the specific case), is imposed for late submission of a tax return.

Interest & Penalties according to circumstances
as from 01/01/2020 - 31/12/2022      1,75%
as from 01/01/2019 - 31/12/2019      2%
as from 01/01/2017 - 31/12/2018      3,5%
as from 01/01/2015 - 31/12/2016      4%
as from 01/01/2014 - 31/12/2014      4,5%
up to 31/12/2006                               4,75 - 9%

Από 1η Ιανουαρίου 2019 οι εισφορές του Ταμείου Κοινωνικών Ασφαλίσεων αυξάνονται κατά 0,5%, από 7,8% σε 8,3%. Τα νέα ποσοστά εισφορών θα ισχύουν για τα έτη 2019 μέχρι 2023.

	31/01	31/03	30/04	31/05	30/06	31/07	01/08	31/08	31/12
Υποβολή δήλωσης λογιζόμενης διανομής μερίσματος ΤΦ 623 για το έτος 2020 και πληρωμή ΕΑΕ & ΓΕΣΥ.
Ηλεκτρονική υποβολή δήλωσης εισοδήματος 2021 από εταιρείες (ΤΦ 4).
Ηλεκτρονική υποβολή δήλωσης εισοδήματος 2021 από φυσικά πρόσωπα τα οποία ετοιμάζουν ελεγμένες οικονομικές καταστάσεις (ΤΦ 1).
Πληρωμή 1ης, 2ης & 3ης δόσης φόρου 2023 σε ασφάλιστρα ασφαλιστικών εταιρειών, κλάδου ζωής (ΤΦ 199).
Ηλεκτρονική υποβολή δήλωσης εργοδότη για το 2022 (ΤΦ 7).
Πληρωμή έκτακτης αμυντικής εισφοράς (ΕΑΕ) και ΓΕΣΥ 2023 (εξάμηνο) σε ενοίκια, αν δεν έγινε παρακράτηση από ενοικιαστή και σε μερίσματα & τόκους από εξωτερικό (ΤΦ 604, 612, 613).
Ετήσιο Τέλος Eταιρείας €350 πληρωτέο στον Έφορο Εταιρειών για το 2023.
Ηλεκτρονική υποβολή φορολογικής δήλωσης 2022 και πληρωμής με αυτό-φορολογία από μισθωτούς και συνταξιούχους που το εισόδημα δεν προέρχεται από επιχειρηματική δραστηριότητα (ΤΦ 1).
Υποβολή προσωρινής φορολογίας 2023 και πληρωμή 1ης & 2ης δόσης, μέσω πύλης (κωδικοί 200 & 213)
Πληρωμή τελικού οφειλόμενου φόρου για το 2022 για εταιρείες με αυτό-φορολογία και για φυσικά πρόσωπα που ετοιμάζουν ελεγμένες οικονομικές καταστάσεις με αυτό-φορολογία, πληρωμή μέσω πύλης (κωδικός 300)
Πληρωμή φόρου που αποκόπηκε από τον μισθό και τα φιλοδωρήματα υπαλλήλων (PAYE) ΤΦ 61.		Τέλος κάθε μήνα για τον προηγούμενο μήνα.
Καταβολή εισφορών κοινωνικών ασφαλίσεων εργαζομένων και ΓΕΣΥ.
Πληρωμή έκτακτης αμυντικής εισφοράς (ΕΑΕ) και ΓΕΣΥ (εάν η πληρωμή γίνεται σε φυσικό πρόσωπο) που παρακρατείται σε μερίσματα τόκους, ενοίκια, όταν ο ενοικιαστής είναι εταιρεία ή συνε Πληρωμή παρακρατήσεων σε εισοδήματα στη Δημοκρατία σε μη-Κύπριους κάτοικους (ΤΦ 11).

Σημειώσεις:
1. Η υποβολή δηλώσεων γίνεται μόνο ηλεκτρονικά.

2. Πληρωμές φόρων πραγματοποιούνται μόνο ηλεκτρονικά.

3. Αναθερωρημένη Φορολογική Δήλωση υποβάλεται εντός τριών (3) ετών από την προθεσμία της σχετικής Φορολογικής Δήλωσης από το φορολογικό έτος 2018 και μετά.

4. Σε περίπτωση μη έγκαιρης υποβολής δήλωσης επιβάλλεται χρηματική επιβάρυνση €100 ή €200 ανάλογα με την περίπτωση.

 Τόκοι και επιβαρύνσεις ανάλογα με τις περιστάσεις:

Από 01/01/2020 - 31/12/2022 1,75%

Από 01/01/2019 - 31/12/2019 2%

Από 01/01/2017 - 31/12/2018 3,5%

Από 01/01/2015 - 31/12/2016 4%

Από 01/01/2014 - 31/12/2014 4,5%

Μέχρι 31/12/2006 9%