The Right Response at the Right Time Law Support

Lawyer in Cyprus Location

8 Kennedy Ave., Office 101, CY-1087, Lefkosia, Cyprus Mon - Fri 09:00-18:00 Online Chat : 24/7

Logo

C. Hadjivangeli & Partners LLC

Advocates – Legal Consultants

Сonsultation

Cyprus lawyer INT:+357-22366777

Extended deadline for the submission of Personal Income Tax Declaration

Extended deadline for the submission of Personal Income Tax Declaration

Extended deadline for the submission of Personal Income Tax Declaration

According to a Decree issued on June 21, 2024, the deadlines for the electronic submission of the 2023 personal income tax returns and payment of the final tax due have been extended to October 31, 2024. This extension applies to the following groups:

Employees and Pensioners

  • Employees and pensioners (TD1 – Employee) whose gross income exceeds €19,500 are now required to electronically submit their 2023 personal income tax return by October 31, 2024.
  • The payment of their final tax due has also been extended to the same date.

Self-Employed Individuals

  • Self-employed individuals (TD1 – Self-employed) with a turnover that does not exceed €70,000 and who do not have an obligation to prepare audited financial statements are now required to electronically submit their 2023 personal income tax return by October 31, 2024.
  • The payment of their relevant tax due has also been extended to the same date.

The extension of these deadlines is likely a measure taken by the government to provide additional time and flexibility for taxpayers to fulfill their tax obligations, given the ongoing economic and social challenges faced during the previous year. This move aims to ease the administrative burden and ensure that individuals have sufficient time to accurately prepare and submit their tax returns.

Taxpayers affected by these changes should take note of the new October 31, 2024 deadline and ensure that they comply with the updated requirements for the electronic submission of their 2023 personal income tax returns and the payment of their final or relevant tax due.

This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. One must not rely on it without receiving independent advice based on the particular facts of his/her own case. No responsibility can be accepted by the authors or the publishers for any loss occasioned by acting or refraining from acting on the basis of this publication. This article is for informational purposes only. For further advice, please contact us at thecontactslisted on the site.

Post A Comment

Your email address will not be published. Required fields are marked *