Settlement of Taxes Through Self-Assessment Due by End of June

As we approach the mid-year mark, it’s crucial to ensure that all tax liabilities are settled in a timely manner. The deadline for the settlement of taxes through self-assessment is 30 June 2024 (with a 30 day grace period).

This deadline applies to the following contributions and payments:

  1. Special Contribution for Defence on Rents:
    • Applicable to rents received by Cyprus domiciled and tax resident individuals, as well as Cypriot tax resident companies, during the period 1 January 2024 to 30 June 2024.
    • Contributions withheld on rental payments made by tenants within the same period.
  2. Special Contribution for Defence on Dividends and Passive Interest:
    • Applicable to dividends and passive interest received by Cyprus domiciled and tax resident individuals during the period 1 January 2024 to 30 June 2024.
  3. National Health Contributions:
    • On gross rental income (received within Cyprus and outside Cyprus), dividends, and passive interest (from foreign sources) received by Cyprus tax resident individuals between 1 January 2024 and 30 June 2024.
    • On gross rental income from properties situated in Cyprus received by non-Cyprus tax resident individuals during the same period.
    • Contributions withheld on rental payments made by tenants within the specified period.

Failure to settle these relevant tax liabilities on time will result in interest and penalties being imposed on the outstanding amounts.

How can we help?

If you require any further information or clarification regarding this or any other tax matter, please do not hesitate to contact us.

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