According to the Cyprus Income Tax Law the dates of submission and payment of the provisional tax for the year 2024 are as follows:<\/p>\n
31\/07\/2024<\/strong> 31\/12\/2024<\/strong> <\/p>\n Calculation of Provisional Tax in Cyprus:<\/strong><\/p>\n The provisional tax is calculated on the profits that are expected to arise in the year 2024<\/span> for companies and self-employed persons.<\/p>\n Remember that the corporate tax rate is 12.5%.<\/strong><\/p>\n <\/p>\n Penalty fee:<\/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 5% on the payable amount.<\/p>\n Legal entities and self-employed who expect to have profits in the year 2024 and do not pay provisional tax will be liable to 10% additional tax on the tax payable for the specific year.<\/p>\n The same applies for provisional tax payments that will not cover at least the 75% of the final profit for the year 2024.<\/p>\n **You are therefore advised to estimate your company\u2019s and\/or personal taxable profits (if self-employed) for the year 2024 and the relevant tax thereon and inform your auditors\/ accountants as soon as possible of your expectations.<\/p>\n For any clarification or assistance, you can contact Globalserve Consultants Ltd at <\/a>marketing@gstaxconsultants.com<\/a><\/span>, 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 2024 are as follows: 31\/07\/2024Submission of return and payment of 1st installment 31\/12\/2024Payment 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-3209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-articles"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/posts\/3209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/comments?post=3209"}],"version-history":[{"count":1,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/posts\/3209\/revisions"}],"predecessor-version":[{"id":3333,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/posts\/3209\/revisions\/3333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/media\/3132"}],"wp:attachment":[{"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/media?parent=3209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/categories?post=3209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gstaxconsultants.com\/ru\/wp-json\/wp\/v2\/tags?post=3209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Submission of return and payment of 1st installment<\/p>\n
Payment of 2nd installment \u2013 last day of revision of provisional tax (if needed)<\/p>\n