Six per cent more people have submitted their tax returns before the November 30 deadline than had done so this time last year, Tax Commissioner Sotiris Markides said on Friday.

Markides told the Cyprus News Agency that until Friday lunchtime, 306,800 people had submitted their income-tax returns.

“The timely submission process for the 2023 tax year, via the Taxisnet system, is nearing its conclusion as the deadline for submission without penalties is Saturday,” he said.

He said the submission and payment systems had been operating smoothly without issues and there didn’t seem to be any last-minute rush.  

Approximately 315,300 taxpayers, he said, had processed their returns. Of these, 306,800 had finalised their submissions while another 8,500 remain in draft status.

For those yet to finalise, Markides warned: “To consider the return as submitted, it must be finalised. Taxpayers are urged to ensure this step is completed to avoid unpleasant consequences, such as a €100 penalty or a notice of failure to file, which carries further implications.”

Markides also clarified that salaried employees, pensioners, and self-employed individuals with gross annual incomes exceeding €19,500 are required to submit income tax returns for 2023.

He said the 2023 filings would be fully processed within 2025. A significant portion of the 2022 filings have already been cleared, he added.

“This marks the first time we have completed the previous year’s filings ahead of the next year’s final submission deadline,” he said.

He put this down to “meticulous planning and systematic monitoring”.

The progress, he added, reflected the efficiency the tax administration and its commitment to streamlining processes for both taxpayers and the state.