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Cyprus Tax - Taxpayers Registration

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Information on registration for Cyprus tax

Limassol Income Tax Office               Photo © CyprusExpat.co.uk

Natural persons are liable to register with the Inland Revenue Department and obtain a Tax Identification Number for individuals, provided that their gross annual earnings exceed 19500 euros, whereas all companies established in the Republic of Cyprus are liable to register with the Inland Revenue Department and obtain a Tax Identification Number for legal persons.

Individuals resident in the Republic of Cyprus for tax purposes, that is, individuals residing in the Republic of Cyprus for a period or more which in aggregate exceed 183 days in the same tax year, are liable to tax in respect of worldwide income. Likewise, companies resident in Republic of Cyprus for tax purposes, that is, companies whose management and control are exercised in the Republic of Cyprus, are liable to tax in respect of worldwide income.

Individuals and legal persons not resident in the Republic of Cyprus for tax purposes are liable to tax only in respect of Cyprus source income but they may wish to be taxed as if they were so resident, provided that they have a permanent establishment in the Republic of Cyprus.

Registration Procedure

The 'T.D. 2001 - Application for Obtaining a Tax Number' can be submitted, by natural persons, partnerships or legal persons, either by post/hand to the PSC Cyprus or to the Tax Department's District Offices (Direct Taxation Offices). The contact details are provided also in the 'Related Documents'. In the 'Related Documents' you can also find the form 'T.D. 2003 - Amendment of Taxpayer's Data' in case you are already registered and you need to ammend your personal details.

The application should be accompanied by the following documents:

Copy of identity card or passport or alien registration certificate or evidence of T.I.C. of foreign tax authority (in case of self-employed person);

Copy of certificate of incorporation, copy of certificate of registered office address, copy of certificate of directors and secretary, copy of certificate of shareholders and copy of memorandum & articles of association or certificate of tax identification code of member state of establishment (in case of a legal person);

Copy of Certificate of Partners, Copy of Place of Business Address, Copy of Certificate of Partnership Registration, copy of partnership agreement (in case of partnership).

The Tax Identification Number is given within one or two days.

Obligations and Supervision

Natural and legal persons that have income from business (profits or benefits), leases, intellectual property or patent rights, fees or other profits arising from property and goodwill, are required, for each fiscal year, to issue invoices and receipts relating to the transactions and receipts.

Self-employed taxpayers, whose annual turnover does not exceed €70000, are obliged to submit Income Tax Returns of Self-Employed persons (IR1) and pay the relevant tax amount by the 30th of June following the end of the taxable year.

Legal persons and self-employed whose annual turnover exceeds €70000 are obliged keep books and records which shall be used to prepare accounts, which must be audited by certified auditors and submit Company Income Tax Declaration (IR4) or Income Tax Returns of Self-Employed persons with accounts (IR1 and IR1 acc) respectively by the 31st of December following the end of the taxable year. Moreover, these persons are obliged to pay the relevant tax by self assessment using (Form I.R. 158A) for legal persons and (Form I.R.158A SE) for individuals by 1st August of the year following the tax year.

Employers are obliged to submit Employers Declaration Form (I.R.7A) by the 30th of April following the end of the taxable year and Monthly Employers Statement (I.R.61A) of Tax and Contributions withheld for employees. Likewise, employees are obliged to submit Income Tax Returns by the 30th of April following the end of the taxable year.

Notably, Income Tax Returns can be submitted electronically through the TAXISnet Service for those persons who have access codes . Returns submitted via the TAXISnet Service have a three month extension from the normal due date. Applications for access can be made using the forms available on the services’ site at https://taxisnet.mof.gov.cy. Additionally for taxpayers who have a T.I.C. and have had at least one assessment, for years from 2007, raised by the department, an electron application for access codes can be made via the TAXISnet service.

The Income Tax Commissioner is authorised, by the Income Tax legislation, to request from any person evidence or solemn statement as per the income earned, that may be deemed necessary.

Source PSC

Last Updated 21 July 2016

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