According to the Cyprus Income Tax Law the dates of submission and payment of the provisional tax for the year 2023 are as follows:<\/p>\n
31\/07\/2023: <\/strong>Submission of return and payment of 1st installment<\/p>\n 31\/12\/2023: <\/strong>Payment of 2nd installment \u2013 last day of revision of provisional tax (if needed)<\/p>\n <\/p>\n <\/p>\n \u03a5\u03c0\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03cc\u03c2 \u03a0\u03c1\u03bf\u03c3\u03c9\u03c1\u03b9\u03bd\u03ae\u03c2 \u03a6\u03bf\u03c1\u03bf\u03bb\u03bf\u03b3\u03af\u03b1\u03c2<\/strong><\/p>\n The provisional tax is calculated on the profits that are expected to arise in the year 2023 for companies and self-employed persons.<\/p>\n \u03a5\u03c0\u03b5\u03bd\u03b8\u03c5\u03bc\u03af\u03b6\u03b5\u03c4\u03b1\u03b9 \u03cc\u03c4\u03b9 \u03bf \u03c6\u03bf\u03c1\u03bf\u03bb\u03bf\u03b3\u03b9\u03ba\u03cc\u03c2 \u03c3\u03c5\u03bd\u03c4\u03b5\u03bb\u03b5\u03c3\u03c4\u03ae\u03c2 \u03b3\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b5\u03c2 \u03b1\u03bd\u03ad\u03c1\u03c7\u03b5\u03c4\u03b1\u03b9 \u03c3\u03c4\u03bf 12.5%.<\/strong><\/p>\n <\/p>\n \u0395\u03c0\u03b9\u03b2\u03b1\u03c1\u03cd\u03bd\u03c3\u03b5\u03b9\u03c2:<\/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 2.25% on the payable amount.<\/p>\n Legal entities and self-employed who expect to have profits in the year 2023 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 2023.<\/p>\n <\/p>\n You are therefore advised to estimate your company\u2019s and\/or personal taxable profits (if self-employed) for the year 2023 and the relevant tax thereon and inform us as soon as possible of your expectations.<\/p>\n \u0393\u03b9\u03b1 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03b5\u03c2 \u03b4\u03b9\u03b5\u03c5\u03ba\u03c1\u03b9\u03bd\u03af\u03c3\u03b5\u03b9\u03c2 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af\u03c4\u03b5 \u03bd\u03b1 \u03b5\u03c0\u03b9\u03ba\u03bf\u03b9\u03bd\u03c9\u03bd\u03ae\u03c3\u03b5\u03c4\u03b5 \u03bc\u03b5 \u03c4\u03b7\u03bd Globalserve Consultants Ltd \u03c3\u03c4\u03bf marketing@gstaxconsultants.com<\/a>, as our tax advisors<\/a> can give you advice on the calculation of the expected taxable income and provide you with the steps to be taken for the payment of the taxes.<\/p>","protected":false},"excerpt":{"rendered":" According to the Cyprus Income Tax Law the dates of submission and payment of the provisional tax for the year 2023 are as follows: 31\/07\/2023: Submission of return and payment of 1st installment 31\/12\/2023: Payment of 2nd installment \u2013 last day of revision of provisional tax (if needed)<\/p>","protected":false},"author":7,"featured_media":3132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[61],"tags":[],"class_list":["post-3176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-articles"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/posts\/3176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/comments?post=3176"}],"version-history":[{"count":1,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/posts\/3176\/revisions"}],"predecessor-version":[{"id":3328,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/posts\/3176\/revisions\/3328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/media\/3132"}],"wp:attachment":[{"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/media?parent=3176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/categories?post=3176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/el\/wp-json\/wp\/v2\/tags?post=3176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}