On 20 March 2025 the Cyprus Tax Department announced that no penalties will be imposed for late submission of the Corporation Tax Return for 2023 as well as of the Income Tax Return for the same year, for individuals with an obligation to prepare audited financial statements, if submitted by 30 June 2025. This provision applies for companies and individuals with no obligation to prepare and submit a Summary Information Table (SIT). The deadline for companies and persons with such an obligation is on 30 November 2025.
For submissions after 30 June 2025, a fixed penalty of €100 will apply.