Cyprus Tax Department Extends Income Tax Declaration Deadline for 2023
The Cyprus Tax Department has announced updates for the submission of Corporate Income Tax Declarations (Form TD4) for the tax year 2023. This update provides additional time for businesses that are not required to submit the Summary Information Table (SIT).
Key Updates You Need to Know
The deadline for submitting Corporate Income Tax Declarations (Form TD4) remains the same (March 31, 2025) but no financial penalties will be imposed if the tax return for tax year 2023 is submitted up to June 30, 2025. This offers additional time for companies and individuals to meet their tax obligations without incurring extra costs.
For tax declarations submitted after June 30, 2025, a €100 penalty will be imposed for late submission. It is crucial for businesses to meet the extended deadline to avoid unnecessary fines and potential compliance risks.
For companies required to submit the Summary Table of Controlled Transactions, the deadline for Income Tax Declaration remains November 30, 2025. These entities must ensure they comply with both SIT and income tax declaration requirements by the respective deadlines.
Ensure Timely Compliance
This update provides a valuable opportunity for businesses to properly prepare their tax declarations and avoid penalties. If you need assistance with your submission or have any questions regarding your tax obligations, our team is here to help.
Get in touch with us today to ensure a smooth and timely submission: enquiries@consulco.com