Temporary Tax Assessment - 2025 (second instalment)

Deadline for the payment of 2nd instalment: 31/12/2025

We would like to remind you for the requirements of the Cyprus Tax Legislation (Assessment and Collection Law as amended in 2002, article 24) regarding the filing of temporary tax returns and relevant temporary tax payments for the year 2025.

Revision of the Temporary Assessment form

All companies may submit a revised declaration of their estimated taxable profit (upwards or downwards) before 31 December 2025. However, submitting a revised provisional tax declaration with an increased estimated taxable profit will result to a 5,5% interest payable per annum on the difference between the initial and the revised estimated amount to be paid. The interest will be charged from the due date of payment of the 1st instalment.

Interest and Penalties

1. An administrative penalty of 5% is imposed on each instalment if the company fails to pay the declared tax by the due dates stated above.

2. Interest on an overdue instalment of the tax is calculated at an annual interest rate of 5,5%, on the basis of completed months.

3. If the provisional tax declared is lower than the 75% of the actual tax payable for the year, then an additional 10% tax is imposed on the difference of the two.

If you require assistance in calculating your estimated taxable profit, then please provide us with an estimated income statement (detailed) for the year and we will provide you with a forecast income tax computation together with our advice as to whether you should proceed with the filing of a Temporary Tax return or not. It is important to note that companies with no taxable profits do not need to submit this return.

For any further information, or if you would like us to proceed with assisting you with the above, please do not hesitate to contact us.

You could proceed with the payment of the provisional tax through Tax Portal. Alternatively, we can take over of the above responsibility. The estimation of profits and transfer of funds in our client’s bank account should reach our office by the 18^th of December 2025, otherwise we will consider it as an assumption by you of the responsibility to comply with this obligation.

Please bear in mind that our fees for the above will be €50+VAT.

Our clients' bank account details can be found below:

CosmoCo Ltd (Clients A/C)

Bank of Cyprus Public Ltd

Account Number: 357003572612

IBAN: CY18002001950000357003572612

Swift Code: BCYPCY2N

On the transfer details please indicate your Company name and "Temporary Tax 2025 - second instalment".