F.C.I. Tax Calendar 2021

Financial Consultants International (F.C.I. Ltd) offers the Tax Calendar as a tool for better planning of business tax obligations for the current year.

Each End of the month
Payment of PAYE deducted from employee’s salaries of previous month.
Payment of tax withheld on payments made to non-Cyprus tax residents, interest or rent paid in the previous month.
Payments of Special Contribution Defence (SDC) held on dividends, interest or rent paid in the previous month.

 

31 January
Submission of declaration of deemed dividend distribution (TD623) for the year ended 31 December 2018 and payment of the SDC.

 

31 March
Electronic submission of corporation tax return (TD4) for accounting periods ending on 31 December 2019 for Companies.
Electronic submission of the 2019 income tax return (TD1) of physical persons preparing audited financial statements.

 

30 April
Payment of first instalment of premium tax for life insurance companies (TD199) for 2021.

 

31 May
Electronic submission of the 2020 employer’s return (TD7).

 

30 June
Payment of special defence contribution (SDC) for the first six months of 2021 on rents, dividends or interest (TD601) from sources outside Cyprus.
Annual company levy of €350 payable to the Registrar of Companies. *

 

Notes:

*Annual Levy is paid to the Registrar of Companies by all registered companies in the Cyprus Registrar of Companies, until June 30 of each year. In case the payment of the levy is made with a delay of two months, a 10% surcharge is imposed, while if the payment is done within 5 months, the surcharge increases to 30%. Non-Payment of the Annual Levy may lead to the withdrawal of the Company from the Registry. Recovery to the Registry can be done within 2 years with the payment of a fine of €500 in addition to the due Fee.

General Notes:

  1. Tax payments are only made electronically.
  2. In case of late submission of a declaration, a charge of €100 or €200 depending on the case. Delay in tax payment carries additional interest, and a surcharge of 5% or more depending on the delayed time.

 

31 July
Electronic submission of 2020 personal tax return (TD1) of individuals and payment of the income tax liability.
Submission of the 2021 provisional tax return and payment of the first instalment.

 

01 August
Payment of 2020 personal income tax under the self-assessment method by individuals preparing audited financial statements and companies.

 

31 August
Payment of the second instalment of premium tax for life insurance companies (TD199) for 2021.

 

31 December
Submission of the 2021 revised provisional tax return (TD5, TD6), if applicable and payment of second instalment of the provisional tax.
Payment of last instalment of premium tax for life insurance companies (TD199) for 2021.
Payment of special defence contribution (SDC) for the last six months of 2021 on rents, dividends or interest (TD601) from sources outside Cyprus.

 

The above information is provided for general purposes only and does not constitute as legal or other advice.

Please contact us for more detailed information and to forward you the Tax Bulleting 2021 and Cyprus Tax Calendar 2021.

Remaining at your disposal.

Financial Consultants International (F.C.I. Ltd) Team

2 Christodoulou Sozou Street, Eiffell Tower, 3rd Floor, 1096, P.O. Box: 21439, 1508, Nicosia – CYPRUS, Tel.: +(357) 22673800, Fax.: +(357) 22665299