Cyprus provides a structured schedule for tax filings and payments, ensuring companies can comply with all tax obligations effectively. Below is a comprehensive tax calendar detailing all types of taxes and contributions that companies operating in Cyprus need to adhere to.
January
- 31st January:
- Submission of the deemed dividend distribution declaration (Form IR623) for the year ending two years prior (for companies with undistributed profits subject to deemed distribution).
March
- 31st March:
- Electronic submission of the prior year’s corporate income tax return (Form IR4) for companies preparing audited financial statements (e.g., for the year ending 31st December, 15 months before).
June
- 30th June:
- Payment of the Special Contribution for Defence (SDC) for the first half of the year on rents, dividends, and interest income (if applicable).
- Payment of General Healthcare System (GHS) contributions for the first half of the year.
July
- 31st July:
- Submission of the provisional tax return and payment of the first instalment of the temporary tax based on estimated profits for the current year.
August
- 1st August:
- Payment of the final corporation tax under the self-assessment method for the prior year.
December
- 31st December:
- Payment of the second instalment of the temporary tax based on estimated profits for the current year.
- Payment of SDC and GHS contributions for the second half of the year.
Monthly or Quarterly Deadlines
Value Added Tax (VAT)
- Quarterly VAT Returns:
- VAT returns and payments for companies under the quarterly scheme are due by the 10th of the second month following the quarter-end (e.g., Q1 VAT return for January-March is due by 10th May).
- Monthly VIES reporting:
- VIES reporting is due by the 15th of the month following the end of the reporting month (e.g., VAT for January is due by 15th of February).
- Monthly Intrastat reporting:
- Intrastat reporting is due by the 10th of the month following the end of the reporting month (e.g., VAT for January is due by 10th of February).
Payroll Taxes
- Monthly (by the 31st of each next month):
- Payment of Pay-As-You-Earn (PAYE) withholding tax on employee salaries.
- Payment of social insurance contributions, including GHS contributions, on employee salaries.
Withholding Taxes
- Monthly (by the 31st of each next month):
- Payment of withholding tax on payments to non-residents (e.g., royalties, interest, and commissions) where applicable.
Recap of Key Deadlines for Major Taxes
| Type of Tax/Contribution | Deadline | Frequency |
| Corporate Income Tax (Final) | 31st July | Annual |
| Corporate Temporary Tax (1st Inst.) | 31st July | Annual |
| Corporate Temporary Tax (2nd Inst.) | 31st December | Annual |
| Special Contribution for Defence | 30th June, 31st December | Bi-Annual |
| GHS Contributions | 30th June, 31st December | Bi-Annual |
| VAT Returns | 10th of the second month following | Monthly/Quarterly |
| PAYE and Social Insurance | End of each month | Monthly |
| Withholding Tax | End of each month | Monthly |
Penalties and interest for late payments
An administrative penalty of €100 or €200 (depending on the specific case) is imposed for the late submission of either a tax return or supporting documentation requested by the Tax Commissioner.
In case of late payment of tax due, a flat penalty of 5% is imposed on the tax amount due.
In case of late submission of corporate income tax return (Form IR4) a flat penalty of 5% is imposed on any tax due.
For late payment of taxes, the public interest rate applicable, as set by the Minister of Finance, for all amounts due after 1 January 2024 is 5%.
The interest rate applicable to prior years are as follows:
- 5% for 2024 and 2025
- 25% for 2023,
- 1,75% for 2022 to 2020,
- 2% for 2019,
- 3,5% for 2018 and 2017,
- 4% for 2016 and 2015,
- 4,5% for 2014,
- 4,75% for 2013,
- 5% for years 2012 and 2011,
- 5,35% for the year 2010,
- 8% for the years 2007‐2009, and
- 9% up to 31 December 2006
Means of payments:
- Payment of taxes is only performed through the electronic platforms provided by the Cyprus Tax Department.
This tax calendar ensures companies in Cyprus can meet all compliance requirements efficiently. Contact us for further information or to handle complex cases or specific exemptions.
