On 23 February 2024, the Cyprus Tax Department (CTD) issued a letter that clarified the extension of the deadline for submission of the income tax returns of companies obligated to submit the Table of Summarised Information (TSI) for 2022. The letter also noted the submission of the TSI must be done electronically via the Tax For All (TFA) portal. The new deadline for submission is 30 November 2024.
The TSI will soon be open for taxpayers to complete and submit in the upcoming weeks. As per Article 50Z of the Assessment and Collection of Taxes Law, failing to submit the TSI by the extended deadline (30 November 2024) will result in an administrative fine of EURO 500. The extension is applicable to both the income tax return form and TSI for the 2022 tax year and includes local file, master file, and minimum transfer pricing documentation.
