The submission of the income tax returns for individuals in Cyprus (form IR1) for the year 2023 is now available via TaxisNet portal.
The deadline for submitting tax returns and paying income tax for the tax year 2023 is on 31 July 2024.
Why do you need to file IR1?
- All tax resident in Cyprus must file a personal income tax return (Article 5 of the Income Tax Law);
- To obtain documents from the tax department such as: TRC certificate. Income tax submission is necessary in order to maintain your tax residency each year;
- Also, banks usually request it for loans and due diligence reasons.
Employees, pensioners and self-employed individuals without Financial Statements, whose gross total income exceeds the amount of €19,500 are also subject to the obligation to submit a personal income tax return.
Electronic payment
Payment of the tax due must be made electronically through Tax Portal, either by credit/debit card payment or by online banking payment.
Need help with your personal tax return?
Please do not hesitate to contact us if you need additional information about the individual tax or assistance in calculating and submitting the return.
In order to submit your tax declaration we will need the below information and documents:
- Pay slips for the whole year – 2023;
- IR63 (employer’s confirmation of income and deductions) for 2023 (for every employment during the year – if different employers);
- Any information regarding worldwide income and any tax payment abroad;
- Information regarding your annual income, if available (rental, interest or dividends); Please provide us with NHIS payment confirmations in case the above are applicable.
- Statement of Life insurance premiums for the year 2023
Please contact us by email on info@ibccs.tax or call our office in Cyprus on +357 222 58 777.
