Are you a natural person with sources of income emanating from the Republic of Cyprus? Here, you’ll find summarized information on how to complete the DECLARATION OF INCOME Individual for tax year 2021.
a. Tax years up to and including 2019
By virtue of Laws administered by the Tax Department, when your gross income, before any allowances and deductions, exceeds €19.500, then you are obliged to complete either the "DECLARATION OF INCOME Individual" or the "DECLARATION OF INCOME Self Employed"* and to submit it electronically via the TAXISnet service.
b. Tax years 2020 and 2021
Pursuant to relevant Decrees issued by the Council of Ministers, the obligation to complete and submit Declarations of Income ONLY applies if your gross total income, before any allowances and deductions, for tax years 2020 and 2021 exceed the amount of €19.500 in each tax year.
c. Tax years 2022 onwards
By virtue of Laws administered by the Tax Department, the obligation to complete and submit Declarations of Income applies irrespective of the level of your gross income.
** In case your total Business Turnover, Gross Rental Income, Dividends and Interest exceeds €70.000 and thus audited accounts are obligatory, the said return can ONLY be submitted electronically by your auditor.
See attached:
➤ Guidance for completing the "DECLARATION OF INCOME Individual" for tax year 2021
➤ Points where mistakes were often found when submitting the "DECLARATION OF INCOME Individual" for tax year 2021 (in Greek)
➤ Instructions for correcting your "DECLARATION OF INCOME Individual" when it is finally submitted (in Greek)
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