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New Cypriot E-Payment Obligation From June 2018

by Amanda Banks, Tax-News.com, London

03 May 2018


Cyprus's Department of Taxation said recently that it will accept only electronic payment for the main tax heads from June 1, 2018.

Earlier, the tax agency introduced mandatory electronic payment for pay as you earn (PAYE) income tax, from March 1, 2018.

The change applies to PAYE covering the public sector, provisional income tax, corporate income tax and personal income tax, and the special contributions for the Defense of Republic on interest, dividends, and rents. These taxes must be paid through the JCCsmart service.

The remaining tax liabilities, and the aforementioned categories of tax liabilities that have accrued interest or penalties must be paid in person at the local tax office.

The tax codes for the taxes affected are: 0114, 0200, 0300 (for legal and natural persons), 0602, 0603, 0604, 0612, 0613, 0614, and 0623.

TAGS: compliance | tax | tax compliance | interest | tax authority | Cyprus | dividends | penalties | Tax

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