Cyprus Taxation 2012

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Cyprus Tax Diary 2012

The most important dates of 2012 for tax purposes are as follows (Please click on each month's table's arrow in order to view more details):


January 2012	Date

Submission of declaration of deemed dividend distribution (IR623) for the year ended 31 December 2009	31


April 2012	Date

Submission of 2011 personal returns of individuals whose income does not include income from a trade/business, income from rents, income from royalties nor income relating to trading goodwill.	30
Payment of premium tax for life insurance companies - first instalment for 2012.	30


June 2012	Date

Submission of 2011 personal returns of individuals not preparing audited financial statements whose income includes; income from a trade/business, income from rents, income from royalties or income relating to trading goodwill.	30
Payment of special contribution for defence for the first six months of 2012 on rents and on dividends or interest from sources outside Cyprus	30


August 2012	Date

Submission of provisional tax declaration and payment of first instalment of provisional tax for 2012.	1
Payment of 2011 final corporation tax under the self-assessment method.	1
Payment of 2011 personal income tax under the self assessment method by individuals preparing audited financial statements.	1
Payment of premium tax for life insurance companies - second instalment for 2012.	31


September 2012	Date

Payment of provisional tax - second instalment for 2012.	30
Payment of immovable property tax for the year 2012.	30


December 2012	Date

Submission of 2011 tax returns of individuals preparing audited financial statements.	31
Payment of provisional tax - third and last instalment for 2012.	31
Payment of special contribution for defence for the last six months of 2012 on rents and on dividends or interest from sources outside Cyprus	31
Payment of premium tax for life insurance companies - third and last instalment for 2012	31

- Payment of tax deduced from employee’s salary (P.A.Y.E).

- Payment of special contribution for defence withheld on payments of dividends, interest or rents made to Cyprus tax residents in the
preceding month.

- Payment of tax withheld in the preceding month on payments to nonCyprus residents.

End of Each month.

Charges: If the above mentioned deadlines are not adhered to, an annual interest of 5% as well as a penalty is chargeable depending on the circumstances.