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Nicosia
Limassol

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We would like to remind you for the requirements of the Cyprus Tax Legislation (Assessment and Collection Law as amended in 2002, article 24) regarding the filing of temporary tax returns and relevant temporary tax payments for the year 2016.

 Please note that a Temporary Tax Assessment of the estimated net taxable profit for the year of 2016 (if any), should be submitted to the Tax Authorities by 31st of July 2016. The resulting tax is payable in two equal installments as per the following deadlines:

  • 1st installment: 31st of July 2016
  • 2nd installment: 31st of December 2016

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Dear Clients,

With reference to the above subject, we would like to remind you that All companies incorporated in Cyprus, irrespective of whether active or not or have assets or not are subject to a €350 levy per annum.

The last day of payment of the Annual Levy for the year 2016 is 30th June 2016.

For those who do not pay the annual fee on time, the following fines will apply:

  • €385 from 01/07/2016 until 31/08/2016
  • €490 from 01/09/2016 until 30/11/2016

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End of each month 

  • Payment of tax deducted from employees salary (PAYE) in the preceding month.
  • Payment of special contribution of employees and pensioners of the private sector  in the preceding month. 
  • Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents in the preceding month.
  • Payment of tax withheld in the preceding month on payments to non-Cyprus residents.
  • Payment of social insurance contribution in the preceding month.

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End of each month 

  • Payment of tax deducted from employees salary (PAYE) in the preceding month.
  • Payment of special contribution for defence withheld on payments of dividends, interest or rents (when the tenant is a company, partnership, the state or local authority) made to Cyprus tax residents in the preceding month.
  • Payment of tax withheld in the preceding month on payments to non-Cyprus residents. 

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