We would like to inform our prestigious clientele that the deadline for submission of personal income tax returns is 31st July 2022.
Physical persons who earn a gross income over €19.500 within the fiscal year 2021, have a compulsory obligation to submit personal tax return (T.D.1) until 31st of July 2022.
This is applicable to: employees, pensioners, self-employed individuals and any other individual who is tax resident in Cyprus or has income derived from sources in Cyprus.
Self-employed individuals whose annual income exceeds €70.000 should prepare audited Financial Statements and submit their T.D.1 in respect of the fiscal year 2021 until 31st of March 2023.
Please do not hesitate to contact our offices to book an appointment with Maria Georgiou, the Chief Financial Officer, who will gladly assist you with submitting your Returns. She will explain to you what needs to be provided, based on your specific affairs.
On the strength of the parliamentary resolution of the Cyprus House of Representatives, on the 14th July 2017, the rule of 183 days, as regards the determination of tax residency of individual persons in Cyprus, was amended by adding a supplementary rule.
In an environment with increasing regulations and reporting requirements, it is of great importance to ensure that our Cyprus Companies comply with all their obligations (statutory and other reporting).