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Update for the submission of tax returns
Exemption from the obligation to submit a personal income tax return for tax year 2020 for individuals with annual gross income below €19.500
The Council of Ministers issued a Decree on 09/07/2021 which states that individuals are exempted from the obligation to submit a personal income tax return for the tax year 2020 if their annual gross income is below €19.500.
To be reminded, in August 2020, Cyprus amended its Assessment and Collections of Taxes Law stated that from the tax year 2020, all individuals with annual gross income that falls under the provisions of the Article 5 of Income Tax Law, were obliged to submit personal tax return.
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Anna Solomou
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Head of Accounting
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Pavlos Tsiaklides
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+357 22 100 192
Head of Audit
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Andreas Odiatis
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+357 25 100 692
Audit Manager