We inform our clients that according to the Cyprus Income Tax Law the dates of submission and payment of the provisional tax for the year 2022 are as follows:<\/p>\n
| \n 31\/07\/2022 <\/strong><\/p>\n<\/td>\n Submission of return and payment of 1st installment<\/p>\n<\/td>\n<\/tr>\n 31\/12\/2022 <\/strong><\/p>\n<\/td>\n \u03a0\u03bb\u03b7\u03c1\u03c9\u03bc\u03ae 2\u03b7\u03c2 \u03b4\u03cc\u03c3\u03b7\u03c2 \u2013 \u03c4\u03b5\u03bb\u03b5\u03c5\u03c4\u03b1\u03af\u03b1 \u03b7\u03bc\u03b5\u03c1\u03bf\u03bc\u03b7\u03bd\u03af\u03b1 \u03b1\u03bd\u03b1\u03b8\u03b5\u03ce\u03c1\u03b7\u03c3\u03b7\u03c2 \u03c4\u03b7\u03c2 \u03c0\u03c1\u03bf\u03c3\u03c9\u03c1\u03b9\u03bd\u03ae\u03c2 \u03c6\u03bf\u03c1\u03bf\u03bb\u03bf\u03b3\u03af\u03b1\u03c2 (\u03b5\u03ac\u03bd \u03c7\u03c1\u03b5\u03b9\u03ac\u03b6\u03b5\u03c4\u03b1\u03b9)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n The provisional tax is calculated on the profits that are expected <\/strong>to arise in the year 2022 for companies and self-employed persons.<\/p>\n Remember that the corporate tax rate is 12.5%. <\/strong><\/p>\n The late submission of the return and the late payment of the installments are liable to a penalty of 5% plus interest of 1.7% on the payable amount.<\/p>\n Legal entities and self-employed who expect to have profits in the year 2022 and do not pay provisional tax will be liable to 10% additional tax on the tax payable for the specific year. The same applies for provisional tax payments that will not cover at least the 75% of the final profit for the year 2022.<\/p>\n You are therefore advised to estimate your company\u2019s and\/or personal taxable profits (if self-employed) for the year 2022 and the relevant tax thereon and inform us as soon as possible of your expectations.<\/p>\n Note that from 1 June 2018, the payment of the provisional tax will be effected ONLY via the JCCsmart service. Should you wish to proceed through our office please contact us at <\/a>phani@gstaxconsultants.com<\/a> not later than 15th of July 2022.<\/p>\n You can contact us at marketing@gstaxconsultants.com<\/a> or call us at 00357 25 817181 for further assistance and clarification needed.<\/p>\n |