Cyprus extends Pillar Two global minimum tax filing, payment deadlines for FY 2023–24
The Cyprus Tax Department has announced an extension of the filing and payment deadlines under the Pillar Two global minimum tax rules for the first fiscal year, defined as a fiscal year commencing between 31 December 2023 and 30 December 2024. The
See More
Cyprus: Tax Department revises transfer pricing simplification return rates from 2026
The Cyprus Tax Department has updated its Transfer Pricing webpage with Circular 5/2026, issued on 12 October 2026, revising the minimum or maximum rates set out in paragraphs 14, 18, and 25 of Circular 6/2023, which covers minimum transfer pricing
See More
Cyprus extends deadline for 2025 individual tax returns
The Cyprus Taxation Department announced, on 19 October 2026, that it has set 31 October 2026 as the deadline for filing the Individual Income Tax Return (without accounts) for the 2025 tax year and paying the tax due. A Decree of the Council of
See More
Cyprus extends individual tax payment deadline
Cyprus’ Tax Department announced on 19 October 2026 that individuals submitting the individual income tax return (Without Accounts) (Form T.F.1) for the 2025 tax year would be exempt from interest and monetary charges if they filed their returns
See More
Cyprus extends zero VAT rate on essential goods through 2027
The Cyprus Taxation Department has confirmed on 19 October 2026 that the zero rate of value added tax (VAT) will continue for a set of basic goods throughout 2027. The extension follows a Decree of the Council of Ministers dated 16 October 2026
See More
Cyprus unveils 2027 budget, outlines corporate tax changes and individual tax relief
Cyprus has presented its 2027 state budget and Medium-Term Fiscal Framework for 2027–2029 to the Parliamentary Committee on Finance and Budget on 12 October 2026. Finance Minister Makis Keravnos presented the budget, which was approved by the
See More
Cyprus: House of Representatives considers Pillar Two amendments to introduce recognised QDMTT
The Cyprus House of Representatives is considering the Ensuring a Global Minimum Level of Taxation of Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union (Amendment) Law of 2026, which was introduced during a plenary session
See More
Cyprus: Government approves VAT cuts, inflation relief measures
The Cyprus Council of Ministers and the Ministry of Finance announced a series of economic measures on 30 September 2026, designed to address rising prices across essential goods and services. Tax reductions on food and energy Cyprus will
See MoreCyprus tax authorities introduce zero VAT rate on essential goods through October 2027
The Cyprus Taxation Department, in a release on 2 October 2026, announced a temporary reduction in value-added tax on basic food items and staples, effective from different dates through 31 May 2027. The decision follows Decree K.D.P. 354/2026,
See More
Cyprus targets tax compliance with stricter enforcement, digital upgrades in 2027 state budgetÂ
The Cyprus Council of Ministers approved the Budget Bill for the year 2027 and the Medium-Term Fiscal Framework (MTFF) 2027-2029 on 16 September 2026. The bill details a strategic shift in government spending, highlighting increased allocations for
See MoreCyprus extends fuel tax reduction to November 2026
The Cyprus Council of Ministers approved a proposal from the Ministry of Finance on 10 September 2026 to extend the reduction in Special Consumption Tax (SCT) rates on motor fuels until 30 November 2026. The reduction, which was due to expire on 17
See More
Cyprus tax authority extends employers 2025 PAYE filing deadline
The Cyprus Tax Commissioner has announced an extension to the annual income tax withholding deadline for employers on 16 September 2026. The new submission date for the 2025 PAYE Return is 30 November 2026. Late filing penalties Returns
See MoreCyprus publishes 2026 NID reference rate for Honduras
The Cyprus Tax Department has published the 2026 reference rate for Honduras for purposes of calculating the notional interest deduction (NID) on new equity investments. Under the NID rules, the applicable rate is based on the 10-year government
See More
Cyprus: Ministry of Finance consults amendments to Pillar Two taxation law
The Cyprus Ministry of Finance has opened a public consultation on 30 July 2026, on the Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union (Amendment) Law of 2026. The amending bill
See MoreCyprus extends filing deadlines for June 2026 VAT Returns, July 2026 VIES Statements
The Cyprus Tax Department has extended the deadline for the submission of VAT returns, payment of VAT due and filing of the Recapitulative Statement (VIES) following a decision by the Commissioner of Taxation. The extension applies to: VAT
See MoreCyprus extends first provisional tax deadline
Cyprus residents and companies earning non-salary income must pay provisional tax for 2026. The first instalment is due 31 July 2026, with an extended deadline of 31 August 2026 for those using online banking. Companies and individuals reporting
See MoreCyprus aligns Pillar Two rules with latest OECD guidance
Cyprus released Decree No. 272/2026 on 26 June 2026 to incorporate OECD materials released after the country's own Pillar Two legislation took effect. The new decree recognises five key OECD documents: the January 2025 Administrative Guidance,
See More
EU: Belgium, Bulgaria, Cyprus face reasoned opinions over DAC9 transposition gaps
The European Commission issued reasoned opinions to Belgium, Bulgaria, and Cyprus for failing to fully transpose Directive (EU) 2025/872 (DAC9), which establishes rules for the filing and exchange of GloBE Information Returns (top-up tax information
See More