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Tax Webcast - July 2019

Cyprus Tax Webcasts

Welcome to our 5 minute tax update broadcasted monthly. The aim of our tax webcasts is to provide a brief summary of local and international tax events impacting Cyprus.

Subscribe to our Tax Webcasts to be notified when a new video is out via our website or YouTube channel.

In this Tax Webcast, we cover the following topics:

1. Local tax developments

1. 1  Amending SDC law for the reduction of SDC payable on interest from corporate bonds

1. 2  Circular 37 – Questions and Answers related to the Informative Leaflet on BiKs

1. 3  Circular 38 – Compensation of Community Council Governors

1. 4  Cyprus Administrative Court decision on tax treatment of interest income arising from enforced expropriation of immovable property

2. International developments

2. 1  Italian Supreme Court rules on tax residence of holding company

3.  Tax diary

31 July 2019

-      Εlectronic submission of the 2018 personal tax return by salaried individuals whose gross income exceeds €19.500 & payment of any tax thereof

-      Electronic submission of the 2018 Employer’s return

-      Payment of the first provisional tax instalment for 2019 via JCC (no interest and penalties apply, if the payment is made until 31 August 2019)

1 August 2019

-      Payment of the 2018 tax balance through self-assessment by companies & individuals preparing audited financial statements

31 August 2019

-      Payment of the second instalment of the premium tax for insurance companies for 2019

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Please note that the comments made in this presentation, to some extent, are based on material obtained from sources outside Deloitte.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the ″Deloitte network″) is, by means of this video, rendering professional advice or services.

No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this video.

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