Tax Compliance

We provide an extended list on Cyprus Tax services. We can assist you from submitting your personal tax form to evaluate your tax position and help you minimise your taxes. Our team of tax experts is ready to assist you whether you are an individual, partnership or any type of legal entity.

Income Tax Returns

A tax year in the Republic starts at the 01 of January and ends on the 31st of December of the same calendar year.

Personal Taxation

All individuals who are earning income within the Cyprus Republic and exceed the tax free threshold are obliged to submit personal tax forms.

Employees are required to do so for every tax year at the 30th of April of the following year and self-employed individuals at the 30th of June. According to the new rules a three month extension is provided if the tax declaration is submitted through the TAXISNET.

Additionally and with the current legislation individuals who have income from dividends and interest whether from sources within or outside the Republic are required to keep accounting records as well.

Individuals who have a turnover of €70,000 or more are required to keep proper books and records and submit audited tax returns. They have to do so for every tax year and submit their return by the end of following the year.

Company Income Tax Return

All tax resident companies within the Republic are required to submit their Income Tax Return for every tax year by the 31 December of the following year. Tax returns of active (not dormant) companies must be audited. The three months extension if submitted through the TAXISNET applies here as well.

Dormant Companies can submit unaudited tax returns although the return is still required to be signed and verified by an approved tax consultant or an auditor.
Additionally the current registration has a new provision under which a company incorporated in the Republic but not a resident of the Republic must submit to the Director of the Inland Revenue until 31 December of the year following the tax year an income statement in a form approved by the Director.

Handling your taxes is crucial. Noncompliance has severe implications and there are many penalties in place to punish those who do not comply.

It is highly recommended to seek advice from specialist tax consultants if you are unsure or unaware how to properly handle your tax matters.

Our expert team of Tax Consultants will guide you through all your obligations taking the burden of this task and responsibility off your shoulders. Our Audit firm will ensure that you will comply with all the requirements and obligations of the Inland Revenue Authorities both on corporate and individual level.

On top of that you will get tax advice on how to maximise tax benefits and develop tax strategies to help you save tax legally.

Tax compliance Services include:

Corporate tax compliance:

  • Assistance with the preparation and filling Company tax return (IR4).
  • Assistance with the preparation and filling Employer tax return (IR7).
  • Assistance with the preparation and filling Defence Returns (Rents, Interest, Dividends).
  • Assistance with the preparation and filling of declarations of Dividends and Dividend Distribution.
  • Assistance with the preparation and filling of exemptions to withhold defence on Interest, Rents and Dividends (Non-residents)
  • Assistance with all corporate compliance matters with the Cyprus Tax Authorities.
  • Application and acquiring the Tax Residence Certificate.
  • Application for a tax clearance and examination of tax liabilities or tax refunds.
  • Preparation and submission of Temporary Tax Returns.
  • Assistance with the preparation and filling of PAYE computations.

Our personal tax compliance services include:

  • Assistance with the preparation and filling of personal income tax returns (IR1).
  • Assistance with the preparation and filling Employer tax return (IR7).
  • Assistance with the preparation and filling Defence Returns (Rents, Interest).
  • Assistance with the preparation and filling of exemptions to withhold defence on Interest, Rents (Non-residents)
  • Assistance with all personal compliance matters with the Cyprus Tax Authorities.
  • Application and acquiring the Tax Residence Certificate.
  • Application for a tax clearance and examination of tax liabilities or tax refunds.
  • Preparation and submission of Temporary Tax Returns.
  • Assistance with the preparation and filling of PAYE computations.
  • Assistance in checking, reviewing and/or objecting to assessments issued by the Cyprus Tax Authorities.
  • Assistance with the preparation and filling a Capital Statement.
  • Assistance with Inheritance Tax.
  • Assistance with Property Tax and Capital Gains Tax.

If you would like to use our tax services please fill this form

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Epaminondou & Co Audit Services Limited Accountants, Auditors, Tax Advisory.
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