Cyprus Mail
Cyprus

Taxpayers urged to file returns by December 15 deadline or face fine

Comment Les The Government Needs To Boost Its Limited Finances By Raising Revenue Through Serious Efforts To Combat Prolific Tax Evasion

Based on the number of tax returns already filed or on temporary submission status, inland revenue expects the number of taxpayers submitting their returns this year to be some 6,000 more than in 2018, officials told the Cyprus News Agency on Wednesday.

The deadline is December 15.  Having already given two extensions, authorities are urging taxpayers to complete and submit their forms the soonest possible to avoid last minute hiccups.

Assistant tax commissioner Sotiris Markides said he expected the number of tax returns filed within the deadline to exceed last year. He said 257,000 taxpayers have already filed, while for another 10,000 or so their tax returns are on temporary status. Of those who have definitively filed, 231,600 are employees (including pensioners and managers) and 25,500 self-employed.

He cautioned that temporary submission is not definitive and urged taxpayers to be careful and to make sure they have completed the process by the December 15 deadline. Failure to do so carries a €100 fine (for all those who have an income of above €19,500 and must submit a tax declaration), even if they later confirm the submission.

Last year, a total of 261,000 tax returns were submitted on time, of which 232,00 by employees and 28,700 by self-employed.

In addition, over the past three years, (for the tax years 2016-2018) authorities also received tax declarations by 346,000 unique taxpayers.

Payment of any payable tax that may result from the tax declaration is made online through the tax portal (https://taxportal.mof.gov.cy/ ) irrespective of the date of payment or the websites of JCCSmart ( https://www.jccsmart.com)  only for payments made within the deadline.

The tax portal access codes are the same as those for Taxisnet. All e-payments need one or two days before they appear on the statement, he added.

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