We would like to remind you that the payment deadline for the final tax for the tax year 2020 for companies and self-employed individuals preparing audited financial statements is the 31st of August 2021.
Payment of income tax due for 2020
The payment of the final tax due (tax code: 300) can be made via:
- Jccsmart.com (JCC). To be able to pay the tax via JCC, a valid debit or credit card is required, or
- Online banking, after creating a self-assessment via the Tax Portal. The portal is an online platform that was recently launched by the Cyprus Tax Authorities. To be able to access the portal you will need to log in using your Taxisnet credentials.
Interest and penalties
In case the income tax balance is not paid by the end of the month of the statutory deadline date (i.e. by 31 August 2021) a 5% penalty applies on the tax due. If the tax balance is not settled within two months after the deadline date, an additional 5% penalty may be imposed. Overdue tax is subject to interest (currently at 1,75% per annum) until the settlement of the tax.
How can we help?
We are at your disposal to assist you with the administration of your final tax payment.