On 23 February 2024, the Cyprus Tax Department announced the extension of the deadline for submitting the annual income tax return and summary information table (SIT) for the 2022 tax year. According to the announcement, the deadline has been extended to 30 November 2024. This extension applies to taxpayers involved in controlled transactions who must submit SIT. The SIT provides details on controlled transactions, including identification details of counterparties, their tax residency jurisdiction, and transaction values. The submission of the SIT electronically alongside the return is mandatory. Failure to submit the SIT incurs a penalty of EURO 500.