In brief
The Minister of Finance issued today, 30 March 2020, a decree extending the deadlines for submission of direct tax returns, further to the amendment of the Assessment & Collection of Taxes Law published in the Cyprus Government Gazette on 27 March 2020.
In detail
Corporate tax return (T.D.4) The deadline for electronic submission of the 2018 corporate tax return (T.D.4) has been extended until 1 June 2020 at 23:59.
'Self-employed' whose annual turnover exceeds €70.000 (T.D.1 self-employed) The deadline for electronic submission of the 2018 income tax return of 'self-employed' individuals whose annual turnover exceeds €70.000 and who have an obligation to prepare audited financial statements (i.e. those individuals completing form 'T.D.1. self-employed') has been extended until 1 June 2020 at 23:59.
The takeaway
This extension of deadlines is part of the measures taken by the Government to support businesses during these difficult times due to the coronavirus outbreak.
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