Tax Alert concerning Deemed Dividend Distributions for the profits of tax year 2019
Cyprus tax resident companies are deemed to have distributed at least 70% of their 2019 DDD-adjusted profits, by 31 December 2021 and settle relevant SDC and/or GHS (if any) by
DAC6 – Administrative Fines for non-compliance
Circular concerning Administrative Fines On 10 November 2021, the Cyprus Tax Department issued Interpretive Circular 55 (available in Greek) which concerns the imposition of administrative fines for non-compliance with the
A Further Extension To The Imposition Of Administrative Fines For Overdue Submission Of DAC6 Information
On the 22nd of November 2021, the Cypriot Tax Department issued an announcement stating that there will be no imposition of administrative fines for the overdue submission of DAC6 information
Imposition of 10% Additional Tax on Employees with income other than employment remuneration
Interpretive Circular 54 (available only in Greek language) issued by the Cyprus Tax Department on 19 October 2021, concerns the imposition of 10% additional tax for employees with income other
Submission deadline extension for the 2019 Corporate Income Tax Return and Personal Income Tax Return of individuals
We would like to inform you that in accordance with a Decree issued on 28 September 2021 the following deadlines are extended to 30 November 2021: Electronic submission of the
A further extension to the imposition of administrative fines for overdue submission of DAC6 information
On the 21st of September 2021, the Cypriot Tax Department issued an announcement stating that there will be no imposition of administrative fines for the overdue submission of DAC6 information
Submission of 2020 personal income tax returns
As per the relevant announcement of the Cyprus Tax Department dated 23 July 2021, individuals can now file their personal Income tax returns for the tax year 2020, via the
Why are audits important
An audit report is a report addressed to the shareholders of a company and the users of the Financial Statements, by an independent auditor of their assessment of whether the
Exemption from the obligation to submit a 2020 Tax Return for certain individuals
As per a Decree issued on 09 July 2021, physical persons which during the tax year 2020 earned gross income not exceeding €19.500, are exempted from the obligation to submit