Cyprus has a structured tax framework to ensure individuals meet their tax obligations in a timely manner. Below is a comprehensive tax calendar that highlights all major deadlines for personal taxes and contributions.
June
- 30th June:
- Payment of the first installment of the Special Contribution for Defence (SDC) on rents, dividends, and interest income for the first half of the year (if applicable).
- Payment of General Healthcare System (GHS) contributions for the first half of the year (where applicable).
July
- 31st July:
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- Electronic submission of the prior year’s personal income tax return (Form IR1) for individuals whose annual income exceeds €19,500 (for the year ending 31st December).
- Submission of the provisional tax return (Form IR5) and payment of the first instalment of temporary tax for self-employed individuals earning taxable income not subject to withholding.
- Payment of the final personal income tax under the self-assessment method for the prior year (if applicable).
December
- 31st December:
- Payment of the second installment of the temporary tax for self-employed individuals earning taxable income not subject to withholding.
- Payment of the second installment of the SDC on rents, dividends, and interest income for the second half of the year.
- Payment of GHS contributions for the second half of the year (where applicable).
Monthly or Quarterly Deadlines
Pay-As-You-Earn (PAYE) & Social Insurance contributions for employers
- Monthly (by the 31st of each next month):
- Employees’ income tax withheld at source by employers must be paid to the Tax Department.
- Employers’ social insurances contributions
General Healthcare System (GHS) Contributions
- Monthly (by the 31st of each next month):
- Employees’ and employers’ GHS contributions must be paid to the Tax Department.
Key Deadlines for Individuals
| Type of Tax/Contribution | Deadline | Frequency |
| Personal Income Tax (Final) | 31st July | Annual |
| Provisional Tax (1st Installment) | 31st July | Annual |
| Provisional Tax (2nd Installment) | 31st December | Annual |
| Special Contribution for Defence on interest, rents and dividends | End of next month | Ad hoc |
| GHS Contributions | 30th June, 31st December | Bi-Annual |
| PAYE Withholding | End of each month | Monthly |
Notes:
- Taxes are paid only through the tax portal of the Cyprus Tax Department.
- Late submissions or payments may result in penalties and interest.
- Non-resident individuals earning income in Cyprus may also have obligations, depending on the nature of their income.
Tips for Compliance
- Stay Organized: Maintain records of all income and deductions.
- Seek Professional Advice: Engage a tax advisor to handle complex tax situations, including cross-border income or exemptions.
- Monitor Changes: Tax regulations and rates may change, so staying informed is crucial.
This tax calendar ensures that individuals in Cyprus can meet their obligations efficiently and avoid penalties. If you have specific circumstances or exemptions, contact us for tailored advice.
