# Cyprus income tax return



## cardio (Sep 19, 2010)

How difficult is it to complete an annual tax return in Cyprus.I,at present employ an accountant to do this.However,it seems that I pay them more in fees than the tax itself.My return is quite straight forward and hardly seems to justify the accountant fees.I would like to know if the relevant forms and instructions are in English.I would appreciate any advise.


----------



## bencooper (Mar 20, 2013)

It is not difficult for an expat to complete the Cyprus Tax Form particularly if you are unemployed and your affairs are straightforward (ie income limited to pensions and perhaps some worldwide dividends and bank interest, rent). The form is in English, 5 or 6 pages and obtained from your tax office. I do suggest you pick up a free tax advisory published by one of the major accounting firms such as Deloitte or PWC, which are updated annually and give comprehensive details and examples of how to work out your tax.
Last year, you had the option, as a pensioner, to elect to have an allowance of first € 19,000 tax free. Capital Gains were free except for property. I haven't had a response from tax office for some years as they are still working 3 years in arrears!


----------



## Baywatch (Mar 30, 2014)

bencooper said:


> It is not difficult for an expat to complete the Cyprus Tax Form particularly if you are unemployed and your affairs are straightforward (ie income limited to pensions and perhaps some worldwide dividends and bank interest, rent). The form is in English, 5 or 6 pages and obtained from your tax office. I do suggest you pick up a free tax advisory published by one of the major accounting firms such as Deloitte or PWC, which are updated annually and give comprehensive details and examples of how to work out your tax.
> Last year, you had the option, as a pensioner, to elect to have an allowance of first € 19,000 tax free. Capital Gains were free except for property. I haven't had a response from tax office for some years as they are still working 3 years in arrears!


I am self-employed and let my accountant do the tax return. We do the book keeping ourselves and pay 100€ per year for the tax-return and some other papers they want. Well worth it.


----------



## cardio (Sep 19, 2010)

Thank you for your advice.I will get the forms from the Tax Office and take it from there.Thanks again.


----------



## Talagirl (Feb 24, 2013)

Here is the website to use if you want to complete your Cyprus Tax Return on line. When I asked at the Paphos Tax Office last year on behalf of another person I was told I needed to go there first to get registered onto the system and then once the application had been processed I could do it on line. 

https://taxisnet.mof.gov.cy/displayWelcome.do


----------



## bencooper (Mar 20, 2013)

Talagirl said:


> Here is the website to use if you want to complete your Cyprus Tax Return on line. When I asked at the Paphos Tax Office last year on behalf of another person I was told I needed to go there first to get registered onto the system and then once the application had been processed I could do it on line.
> 
> https://taxisnet.mof.gov.cy/displayWelcome.do


I assumed your tax advisor would already have obtained a TIC (Tax Identification Code) for you - the tax office will advise if this is still applicable for you to use. It may complicate issues if you apply for a new one by re-registering as suggested. You can of course complete the submission on-line or paper form once you have a coding. The tax comprises Income and Special Contributions for Defence elements (the latter is usually peanuts based on worldwide bank interest, dividends and rental income though there is no tax free allowance for this element and, only now, applies to Cyprus Domiciles only but you'd probably need advice on this issue ) Good Luck.


----------



## Talagirl (Feb 24, 2013)

Yes, the lady concerned had been paying an accountant to complete her Cyprus Tax Returns and so was already registered. She returned the completed application form to the Tax Office and a few weeks later was able to use the Taxisnet system.


----------



## GSmith (Nov 9, 2015)

Keep a copy of last year's form so that you can use it as a template for coming years, It will often take 3 years to receive confirmation that what you have submitted has been passed and detaiuls of tax paid / due.


----------



## houdinibun (Oct 8, 2015)

Baywatch that seems like a good deal could you let me know who you use please?


----------



## Baywatch (Mar 30, 2014)

houdinibun said:


> Baywatch that seems like a good deal could you let me know who you use please?


Sorry but I have promised him that I will not give his name away. He take no more clients, he is full time with a big developer and have some own clients on spare time.

But I will ask him.


----------



## houdinibun (Oct 8, 2015)

No problem - always after recommendations as it feels less like pot luck!


----------



## Baywatch (Mar 30, 2014)

houdinibun said:


> No problem - always after recommendations as it feels less like pot luck!


This guy has been cheated a couple of times, thats why


----------



## zach21uk (Jun 26, 2014)

I need someone to help with my taxes in Cyprus too, so if anyone can recommend someone for me, that would be great.


----------



## Veronica (Apr 5, 2008)

Anders uses the one we use (on our recommendation). 
Unfortunately it was another member of this forum (no longer active on here) who used him to get lots of information then just dropped him and didn't pay a penny for all his work.

This is why we no longer send him clients unless it is someone we know well and we have checked with him first.

Zach as I know you and trust you I will approach him on your behalf.


----------



## Baywatch (Mar 30, 2014)

Veronica said:


> Anders uses the one we use (on our recommendation).
> Unfortunately it was another member of this forum (no longer active on here) who used him to get lots of information then just dropped him and didn't pay a penny for all his work.
> 
> This is why we no longer send him clients unless it is someone we know well and we have checked with him first.
> ...


If he has time for you Zach, buy a lottery ticket. He is super


----------



## zach21uk (Jun 26, 2014)

Much appreciated


----------



## Veronica (Apr 5, 2008)

zach21uk said:


> Much appreciated


He's happy to take you on. I've sent you a pm with his contact details.


----------

