Tax information

Personal tax returns – up to the year 2019 an individual was only obliged under the law to file his personal tax return if his income exceeded €19.500. From year 2020 all individuals are obliged to file a personal tax return irrespective of their level of income. A revised tax return can now be filed within three years from the expiry date of the tax return's submission date.

Employer's return (IR7) – the submission of the Employer's return has been extended to 31 May (if filed electronically) of the year following the company's year-end.

Registration with tax authorities – a Cyprus company is obliged under the law to register with the Cyprus tax authorities within 60 days from its incorporation, otherwise penalties will be imposed for late registration. Now, a company although incorporated in Cyprus but is not a Cyprus tax resident entity must inform the tax authorities of this fact within 60 days from its incorporation.