The deadline for the electronic submission of the 2022 personal income tax returns and the payment of 2022 personal tax has been extended from 31 July 2023 to 2 October 2023.
This extension and obligation for submission applies to:
- Employees and pensioners (TD1 - Employee) whose gross income exceeds €19.500, and
- Self-employed individuals (TD1 - Self-Employed) with a turnover that does not exceed the amount of €70.000 and who do not have obligation to prepare audited financial statements.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director
Today (05/05/2023), a Decree amending the VAT Law in order to impose a zero VAT rate on supplies of certain basic items was published in the Official Gazette. This temporary measure against price increases will remain in force until 31 October 2023.
The zero VAT rate will apply to:
- Bread
- Milk
- Eggs
- Baby food
- Baby diapers
- Adult diapers
- Feminine hygiene products
It is noted that according to the VAT Law, affected businesses are required to perform a stock count when the above provisions become effective.
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director
All companies incorporated in Cyprus, irrespective of whether they are active or not, or have assets or not, are subject to a €350 levy per annum.
The last day of payment of the annual levy for the year 2023 is the 30th of June 2023. For a late payment of the 2023 Annual Levy, a penalty will be imposed from the Registrar of Companies.
You can proceed with the payment of the annual levy online, through JCCsmart.
Otherwise, we can take over the payment of the Annual Levy on your behalf. The procedure that you need to follow is the following:
1. Transfer the amount of €380 (€350 for the levy payment + €30 to cover our fees and bank charges) to our Clients' Account found below, by 09/06/2023:
CosmoCo Ltd (Clients A/C)
Bank of Cyprus Public Ltd
Account Number: 357003572612
IBAN: CY18002001950000357003572612
SwiftCode: BCYPCY2N
2. On the bank transaction details, indicate "Annual Levy" and your Company Name.
3. Send us a confirmation e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. requesting the annual levy payment along with an attachment of the bank transfer confirmation, by 09/06/2023.
If you have already paid the 2023 Annual Levy, please ignore this announcement.
The Cyprus Tax Department has announced the implementation of a new unified tax management system called "Tax For All" or TFA, that will replace the existing TaxisNet platform.
What is TFA?
Through TFA, taxpayers will maintain a tax profile and be informed of their tax liabilities, be able to pay taxes, issue certificates and submit tax refund requests and appeals. The new system will be implemented in three stages and will replace all existing systems and electronic applications operating today. All taxpayers will gradually be transferred to TFA. In order for the transition to take place, the taxpayers must have a valid email address.
What do I have to do?
Visit TaxisNet (https://taxisnet.mof.gov.cy), log in with your credentials and make sure that your email address is up-to-date.
You may also visit the following relevant link from the Tax Department that includes guidance in Greek:
Tax Department: Email update guidance
We remain at your disposal for anything you may need.
Contact person
Stelios Ioannou
This email address is being protected from spambots. You need JavaScript enabled to view it.
+357 22 100 192
Managing Director