We would like to inform you that for the tax year 2025 the IR7 will be submitted on both a monthly and an annual basis.
– Monthly submission: Mandatory reporting of employees’ salaries each month via TaxForAll.
– Annual submission: The yearly declaration will remain in place for reconciliation and control purposes.
Following the announcement circulated on 14/01/2025, you are informed that the submission deadlines for IR7 returns (Withholding Tax and Contributions Statement) and payment of withholdings for the years 2024 and 2025 are as follow.
Deadlines for submission of IR7 returns for the year 2024:
- January – December 2024: until 31/12/2025
Possession of a Tax Identification Number (TIN) by all employees is not required.
Deadlines for submission of monthly returns for the year 2025:
- January – November 2025: until 31/12/2025
- December 2025: until 31/01/2026
Deadlines for payment of withholdings for the year 2025:
- June – November: until 31/12/2025
- December: until 31/01/2026
**It is noted that from January 2025 it is required that all employees have a Tax Identification Number (TIN).
Payroll department of Globalserve Consultants LTD confirms that submissions for our clients are carried out normally, provided we offer payroll services and the necessary information has been received on time.
Update January 2025
https://www.gstaxconsultants.com/submission-of-withholding-taxes-contributions-declaration-tf-7-for-the-year-2025/
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Questions and answers about IR7:
What is Form IR7?
Form IR7 is the declaration of withholding tax and contributions submitted by the employer for all their employees. The form reports to the Tax Department the tax withholdings (PAYE) and the deductions for social insurance contributions per employee.
Who does Form IR7 apply to?
Submission of Form IR7 is mandatory for all employers in Cyprus
How is Form IR7 submitted?
The form is submitted electronically through the Tax For All (TFA) system from January 2025 and onwards.
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