According to the announcement by the Tax Department of Cyprus on 08 April 2022, Personal Income Tax Return (Form T.D.1) for the tax year 2021 is now accessible for electronic submissions through the Tax Portal TaxisNet. The tax return (Form T.D.1) is addressed to employees, pensioners, and to self-employed individuals (Form T.D.1 self-employed) with turnover below EUR 70.000 and who do not have the obligation to submit an audited financial statement.
Exemptions
According to decree no. 51/2022 published on 04 February 2022, in the Official Gazette of the Republic of Cyprus, the Council of Ministers is exempting (again) natural individuals whose total Gross Annual Income is lower than EUR 19.500 from the requirement to file a personal income tax return for the tax year 2021; unless they received a notice/request for submission.
This is the second year in a row that this exception has been announced.
Deadline
The deadline for submitting tax returns and paying income tax for tax years is July 31 of the year following the tax year.
No deadline extension has been announced by Tax Department, therefore the submission of the Tax Forms, for the tax year 2021, as well as the settlement of any tax due, via self-assessment for the same tax year, must be completed by 31 July 2022.
Payment
Payment of the tax due must be made electronically using the unique number assigned when submitting the declaration. The Tax Department allows electronic payment via JCC Smart Portal and Tax Portal.
