Extension to the deadline for the submission of Income tax returns of Companies (T.D.4) and self-employed persons whose turnover exceeds the amount of €70.000 and have obligation to prepare audited accounts (T.D.1) for the tax year 2019
New Deadline: 06/12/2021
We would like to inform you that the Minister of Finance has further extended the deadline for the income tax return of the companies, self-employed individuals whose turnover exceeds the amount of €70.000 and have the obligation to prepare audited accounts and for employees and pensioners whose income exceeds €19.500.
The deadline has been extended from 30 November 2021 to 6 December 2021.
It should be noted that there will be no imposition of administrative fines until 6 December 2021.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
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+357 22 100 192
Managing Director
The Tax Department has further extended the deadline for the submission of DAC6 information
New Deadline: 31/01/2022
We would like to inform you that the Tax Department has announced that there will be no imposition of administrative fines for the overdue submission of DAC6 information that will be submitted by 31st of January 2022, in the following cases:
- Reportable Cross-Border Arrangements that have been made between the 25th of June 2018 and 30th of June 2020 and had to be submitted by 28th of February 2021.
- Reportable Cross-Border Arrangements that were implemented between 1st of July 2020 and 31st of December 2020 and had to be submitted by 31st of January 2021.
- Reportable Cross-Border Arrangements made between 1st of January 2021 and 1st of January 2022, that had to be submitted within 30 days from the date they were made available for implementation or were ready for implementation or the first step in the implementation has been made, whichever occurred first.
- Reportable Cross-Border Arrangements for which secondary intermediaries provided aid, assistance or advice, between 1st of January 2021 and 1st of January 2022 and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice.
- The periodic reports for marketable arrangements.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director
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We would like to inform you that the Cyprus Tax Department has issued a circular regarding the imposition of a 10% additional tax for employees with income other than from employment.
According to the circular, taxpayers who have taxable income other than employment income (e.g., rental income) must submit a provisional tax declaration and settle the estimated provisional income tax in two installments. Failure to do so, results in the imposition of the 10% additional tax on the difference between actual tax payable and the provisional tax paid.
In cases where the taxpayer has already paid income tax on taxable income through the PAYE system, for income that exceeds 75% of the actual final income, then during the taxpayer’s income tax return examination, no additional tax will be imposed.
If a tax assessment has been issued and the 10% additional tax has been imposed, then the taxpayer can submit an objection within the statutory deadlines for the 10% additional tax to be waived.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director
Further extension to the deadline for the submission of Income tax returns of Companies (T.D.4) and self-employed persons whose turnover exceeds the amount of €70.000 and have obligation to prepare audited accounts (T.D.1) for the tax year 2019
New Deadline: 30/11/2021
We would like to inform you that the Tax Department has further extended the deadline for the submission of the income tax returns for the tax year 2019 both for legal entities and self-employed individuals whose turnover is above €70.000 and are obliged to prepare audited accounts. The deadline has been extended from 30 September 2021 to 30 November 2021.
It should also be stated that the payment deadline for the tax liability for the tax year 2020 remains the 30th of September 2021.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director
We would like to let you know that according to the Prevention and Suppression of Money Laundering Activities Laws of 2007-2021, companies and any other legal entities incorporated in the Republic of Cyprus must obtain and hold adequate, accurate and current information on their beneficial ownership. This requires their directors (or other officials) to identify and electronically submit all relevant information of the beneficial owner(s) who own or control the legal entities to the "Electronic Filing" system, through the government gateway portal “ARIADNI”, by 12 March 2022.
It is highlighted that the responsibility for the submission and timely update of information lies with the legal entity and its officials, and penalties may be imposed to those that do not comply with their obligation to submit their beneficial owner(s) data.
The Registrar of Companies has issued comprehensive guidance that can be accessed here.
We can assist you with the registration of your company to ARIADNI (if not already registered), as well as with the collection and submission of all relevant Beneficial Owner information to the Electronic Filing system, on behalf of your company. A fee of €100 + VAT will be charged for our assistance in registering your company to ARIADNI and of €150 + VAT for submitting the Beneficial Owner(s) information to the Register.
For any further information, please do not hesitate to contact us.
Contact persons
Anna Solomou
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+357 22 100 192
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