The deadline for submission of the Withholding
Taxes and Contributions Return (the ‘Return’) for the year 2023 is on 31 May
2024. The Return, otherwise known as the Employer’s Return, provides a summary of
employees' data, including emoluments, P.A.Y.E. and other deductions.
This is the last year for which the Return will
be submitted through the TAXISnet system. As we reported recently for the year 2024 and onwards, the Return will be submitted through the
Tax For All platform.
In order for the Return to be submitted, all
employees declared are required to possess a valid Tax Identification Number, issued
by the Cypriot Tax Department.
Failure to submit the Return on time carries a
penalty of €100.
