EXTENSION OF THE DEADLINE FOR SUBMISSION OF EMPLOYERS AND INDIVIDUALS’ INCOME TAX RETURN

In April 2021 the Cypriot House of Representatives voted to amend certain provisions relating to the Assessment and Collection of Taxes Law 4/78.

They agreed in extending the deadline for submission of certain direct tax returns and payment of certain tax liabilities.

The changes are as follows.

‘Employees and Pensioners’ (Form T.D.1 employees)

The deadline for electronic submission of the 2020 income tax return of ‘employees and pensioners’ (i.e. those individuals completing form ‘T.D.1 employees’) has been extended from the end of 31 July 2021 to the end of 30 September 2021.

The deadline for the payment of the related tax via self-assessment has been extended to the same date.

‘Employers’ (Form TD7)

The deadline for electronic submission of the total 2020 payroll (Form TD7) has been extended from the end of 31 May 2021 to the end of 30 September 2021.

Settlement of second instalment of the 2020 provisional tax

The deadline for settlement of the second instalment of the 2020 provisional tax has been extended from 31st January 2021 to 30th September 2021.

For any advice or assistance in relation to the above please contact the expert team at Fairfax Yeaman on + 357 25558025 or email accounts@fairfaxyeaman.com