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    • SERVICES
      • ADVISORY
      • AUDIT & ASSURANCE
      • BUSINESS SERVICES
      • TAXATION
    • EVENTS
      • Interactive Corporate Events
      • Corporate Social Responsibility
    • CAREERS
    • NEWS
    • CONTACT US
    • ONLINE PAYMENTS

      • ABOUT US
      • SERVICES
        • ADVISORY
        • AUDIT & ASSURANCE
        • BUSINESS SERVICES
        • TAXATION
      • EVENTS
        • Interactive Corporate Events
        • Corporate Social Responsibility
      • CAREERS
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      Provisional Tax 2021

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      • Provisional Tax 2021
      Νέα παράταση προθεσμίας για την καταβολή έκτακτης αμυντικής εισφοράς
      06/05/2021
      Προσωρινή Φορολογία 2021
      11/06/2021

      Provisional Tax 2021

      11/06/2021
      Categories
      • ANNOUNCEMENTS
      • TAX NEWS
      Tags

      We inform our clients that according to the Cyprus Income Tax Law the dates of submission and payment of the provisional tax for the year 2021 are as follows:

      31/07/2021 Submission of return and payment of 1st installment

      31/12/2021 Payment of 2nd installment – last day of revision of provisional tax (if needed)

      The provisional tax is calculated on the profits that are expected to arise in the year 2021 for companies and self-employed persons.

      Remember that the corporate tax rate is 12.5%.

      The late submission of the return and the late payment of the installments are liable to a penalty of 5% plus interest of 1.7% on the payable amount.

      Legal entities and self-employed who expect to have profits in the year 2020 and do not pay provisional tax will be liable to 10% additional tax on the tax payable for the specific year. The same applies for provisional tax payments that will not cover at least the 75% of the final profit for the year 2021.

      You are therefore advised to estimate your company’s and/or personal taxable profits (if self-employed) for the year 2021 and the relevant tax thereon and inform us as soon as possible of your expectations.

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