Cyprus Mail
Cyprus

Tax return extension likely

Cabinet is likely to extend the deadline for tax returns by a month, tax commissioner Sotiris Markides has told the Cyprus News Agency.

Individuals and the self-employed must file their tax returns by July 31. But Markides said Finance Minister Constantinos Petrides intends to propose to cabinet next week that it issues a decree extending the deadline to August 31.

Markides clarified that the proposal would apply only to individuals and self-employed who do not submit accounts, and not for companies and self-employed with accounts. The latter two categories were given a four-month extension by parliament.

Any extension to the filing deadline will be accompanied by an extension for the payment of any outstanding taxes arising from the tax form, he said.

“It was considered appropriate to give one month extension so that taxpayers have more time and the deadlines for the two filings are not the same,” he added.

The tax official urged taxpayers to file their form and not to be affected by any additional time that may be given.

Tax forms were posted online early in April, and taxpayers have had enough time to complete them, he added.

Income tax forms for 2021 must be filed by salaried employees, pensioners and self-employed individuals with gross income exceeding in €19,500.

The tax forms for companies and self-employed with accounts for 2021 have also been posted online.

 

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