Tax Calendar 2013

Posted on Thursday, 22 August 2013

2013 Tax Calendar

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.

31 January
– Submission of declaration of deemed dividend distribution (IR623) for the year ended 31 December 2010.

31 March
– Electronic submission of the 2010 corporation tax return (IR4) for accounting periods ending on 31 December 2011 (IR4).
– Submission of the 2011 income tax return of physical persons preparing audited financial statements (2).

30 April
– Payment of premium tax for life insurance companies – first installment for 2013.

30 June
– Payment of special contribution for defence for the first six months of 2012 on rents and on dividends or interest from sources outside Cyprus.

31 July
– Electronic submission by employers of the total 2012 payroll (Form IR7).
– Submission of the 2013 provisional tax return and payment of the first installment.
– Submission of 2012 personal tax returns of individuals whose income do not include income from a trade/business, income from rents, dividends, interest, royalties nor income relating to trading goodwill (1).

1 August
– Payment of 2012 final corporation tax under the self-assessment method.
– Payment of 2012 personal income tax under the self assessment method by individuals preparing audited financial statements (2)

31 August
– Payment of premium tax for life insurance companies – second installment for 2013.

30 September
– Submission of 2012 personal returns of individuals not required to prepare audited financial statements but whose income include income from a trade/business, income from rents, dividends, interest, income from royalties or income relating to trading goodwill (1) (2) and payment of tax via a self-assessment method.
– Payment of immovable property tax for 2013.

31 December
– Payment of provisional tax – second and last installment for 2013.
– Payment of special contribution for defence for the last six months of 2013 on rents and on dividends or interest from sources outside Cyprus.
– Payment of premium tax for life insurance companies – third and last installment for 2013.

Interest and Penalties
The official interest rate, as set by the Finance Minister, is 4.75% per annum for all amounts due after 1 January 2013 (5% for years 2011 and 2012, 5,35% for the year 2010, 8% for the years 2007-2009 and 9% up to 31 December 2006).

In addition to the interest, penalties are also charged depending on the circumstances.