Extended Deadline for TD4 & TD1 (with Accounts) Submissions for 2023 Deadline 30 June 2025 The Cyprus Tax Department has announced an extension for the submission of corporate income tax returns (TD4) and self-employed tax returns with audited financial statements (TD1 with Accounts) for the tax year 2023. This update is crucial for businesses and self-employed individuals who must comply with tax [...]
The Future of Accounting Services in Cyprus: Trends You Should Know The world of accounting services in Cyprus is evolving rapidly. With new technologies and changing economic landscapes, businesses need to stay ahead of the curve to ensure financial success. In this article, we'll explore key trends shaping the future of accounting services in Cyprus and how companies like Evidentrust are leading the charge. The [...]
Why Cyprus is the Ideal Location for Professional Accounting Services Cyprus, with its strategic location, business-friendly environment, and highly skilled workforce, has become a prime destination for professional accounting services. In this article, we'll explore why businesses and individuals looking for accounting services should consider Cyprus, and how Evidentrust provides top-tier solutions for accounting and financial management. The Business Benefits of Cyprus as an Accounting [...]
Cyprus Tax Reform: Key Proposed Changes On 26 February 2025, the Cyprus Tax Reform Team, led by the Economics Research Centre of the University of Cyprus, presented its proposals for a long-anticipated tax reform at the Presidential Palace. These proposals aim to modernize Cyprus’s tax framework, encourage economic growth, and align with international tax standards. The proposed changes are set for public consultation [...]
Extension for TD4 and SIT Submissions for 2022 The Cyprus Tax Department has officially extended the submission deadline for the Annual Income Tax Return (TD4) and the Summary Information Table (SIT) for the tax year 2022. New Deadlines You Need to Know 🔹 Official Deadline: 28 February 2025🔹 Grace Period Until: 31 May 2025 (no penalties for submissions made by this date) This [...]
Upcoming Changes to IR7 Submissions via the TAX FOR ALL System Adapting to the New Era of Tax Compliance The Cyprus Tax Department has announced significant changes regarding the submission of the (Employer) Withholding and Tax and Contributions Declaration (IR7) and the payment process for related taxes and contributions. Starting in the first half of 2025, these processes will transition to the TAX [...]
Deemed Dividend Distribution for 2024 Deadline 31/01/2025 Cyprus tax resident companies with accounting profits for the tax year 2022Â that fall within the DDD provisions, must declare at least 70% of their accounting profits of the year 2022 by 31 December 2024 and where applicable, pay the relevant Special contribution for defence of 17% and National Health Contribution of 2,65% by 31 January [...]
Second Temporary Tax Payment for 2024 Deadline 31/12/2024 Second Temporary Tax Payment for 2024 The second temporary tax return for 2024 must be submitted and the corresponding tax to be paid by the 31st of December 2024. 1. Introduction to temporary tax assessments 1.1. Applicable to: Cyprus Companies with taxable income Individuals with taxable income other than salaries, pensions, dividends and interest [...]
Important Update: Extension of Income Declaration Submission Dates We would like to inform you about an important update from the Department of Taxation regarding the submission of Income Declarations for Companies required to submit a Summary Information Table along with their tax return. The Council of Ministers has announced the following extensions: Income Declaration for 2022: Extended until 28th February 2025 Income Declaration [...]
Updates on Transfer Pricing FAQs from the Cyprus Tax Department Important Update: New FAQs Issued by the Cyprus Tax Department on Transfer Pricing We wish to inform you of the latest update from the Cyprus Tax Department (CTD) concerning Transfer Pricing (TP) legislation. On 24 September 2024, the CTD published additional Frequently Asked Questions (FAQs) (#25-#43) on its official website. These new FAQs [...]
