On 12 February 2025, the Cyprus Tax Department issued an official announcement extending the deadline for submitting the Annual Income Tax Return (Form TD4) and the Summary Information Table (SIT) for the 2022 tax year. While the official deadline remains 28 February 2025, the Tax Commissioner has granted a grace period during which no penalties […]
On 25 October 2024, the Cyprus Tax Department (“CTD”) announced that the Council of Ministers, during its meeting on 24 October 2024, approved an extension for submitting the 2022 and 2023 Income Tax Returns (ITR). According to the announcement, the deadlines for submitting the ITR will be extended as follows: This extension specifically applies to […]
On 1 February 2024, the Cyprus Tax Department (“CTD”) issued a letter revising the thresholds for preparing a Local File for the tax year 2022. These changes aim to streamline compliance requirements and reflect the evolving needs of stakeholders. Current Requirements Under the Income Tax Law of 2002, as amended, Cypriot tax-resident persons and Permanent […]
Following the publication in the Government Gazette on 20 December 2023, Law N.157(I)/2023 introduced a significant reduction in the Special Defence Contribution (SDC) rate on interest income. Effective from 1 January 2024, the SDC rate on interest received or credited by individuals and companies resident in the Republic has been reduced from 30% to 17%. […]
On October 23, 2023, the updated list of non-cooperative tax jurisdictions was officially published in the Official Journal of the European Union. This revision follows a decision by the Economic and Financial Affairs Council (ECOFIN) on October 17, 2023, which adopted conclusions regarding the EU’s list of non-cooperative jurisdictions (Annex I) and assessed the progress […]
On February 21, 2023, the updated list of non-cooperative jurisdictions for tax purposes came into effect following its publication in the Official Journal of the European Union. This revision followed the adoption of conclusions by the Economic and Financial Affairs Council (ECOFIN) on February 14, 2023. The ECOFIN Council addressed both the EU list of […]
The long-awaited tax incentives for individuals in relation to first employment in Cyprus were officially published in the Official Gazette of the Republic of Cyprus on 26 July 2022. These new provisions, introduced into the income tax legislation, form part of the Cyprus Government’s broader strategy to attract businesses and skilled professionals from abroad, making […]
On 30 June 2022, the Cyprus Parliament has voted to law the long-anticipated transfer pricing documentation requirements into law, accompanied by detailed regulations applicable from the 1 January 2022. These measures are fully aligned with the recommendations outlined in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The new documentation requirements apply […]
On 3 March 2022, the updated EU list of non-cooperative jurisdictions for tax purposes became effective following its publication in the Official Journal of the European Union. Key Updates: George Kaimakliotis & Co Ltd is ready to assist you in understanding the implications of these updates and how they may affect your tax planning and […]
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin sed diam sapien. Sed semper urna dictum tellus lacinia vehicula. Ut volutpat, augue vel auctor tincidunt, ligula sem pharetra dui, nec tincidunt ante mauris eu diam. Phasellus viverra nisl vitae cursus euismod. Suspendisse sit amet est lectus.
Monday – Friday: 9am to 20 pm
Saturday: 9am to 17 pm
Sunday: day off
