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Tax Webcast - June 2019

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 Submission of personal income tax returns
 

2. International developments

2. 1 Process of negotiating a bilateral Competent Authority Arrangement (CAA) for the exchange of Country-by-Country Reports between Cyprus and the USA

2. 2 Extension to the reporting deadline for FATCA and CRS returns

2. 3 Publication of the overview of preferential tax regimes examined by Code of Conduct Group

2. 4 Updated EU list of non-cooperative jurisdictions

2. 5 Expansion of the functionality of the MLI matching database


3.  Tax diary for June 2019

30 June 2019

-      Payment of tax balance for the tax year 2018 through self-assessment by self-employed individuals who don’t prepare audited Financial Statements.

-      Payment of SDC on rents, dividends and interest from sources outside of the Republic for the first 6 months of 2019.

    31 July 2019

-      Electronic submission of the 2018 personal tax return by salaried individuals whose gross income exceeds €19.500 and for the payment of any tax thereof.

-      Electronic submission of the 2018 Employer’s return

-      Submission of the 2019 provisional tax return together with the payment of the first provisional tax instalment.

      1 August 2019

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

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