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Tax Webcast - July 2019

Cyprus Tax Webcasts

Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

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In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1  Amending SDC law for the reduction of SDC payable on interest from corporate bonds

1. 2  Circular 37 – Questions and Answers related to the Informative Leaflet on BiKs

1. 3  Circular 38 – Compensation of Community Council Governors

1. 4  Cyprus Administrative Court decision on tax treatment of interest income arising from enforced expropriation of immovable property
 

2. International developments

2. 1  Italian Supreme Court rules on tax residence of holding company
 

3.  Tax diary

31 July 2019

-      Εlectronic submission of the 2018 personal tax return by salaried individuals whose gross income exceeds €19.500 & payment of any tax thereof

-      Electronic submission of the 2018 Employer’s return

-      Payment of the first provisional tax instalment for 2019 via JCC (no interest and penalties apply, if the payment is made until 31 August 2019)

1 August 2019

-      Payment of the 2018 tax balance through self-assessment by companies & individuals preparing audited financial statements

31 August 2019

-      Payment of the second instalment of the premium tax for insurance companies for 2019

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