Further to our previous newsfeed, on 12 February 2025 the Cyprus Tax Department announced that while the deadline for submission of the Corporation Tax Return for 2022 for taxpayers with an obligation to submit a Summary Information Table (SIT) remains on 28 February 2025, no penalties will be imposed for late submission as long as this happens before 31 May 2025. The same holds for the filing of the SIT.
For submissions after 31 May 2025, the following penalties will apply, always in relation to the year 2022:
- EUR 100 for late submission of the Corporation Tax Return.
- EUR 500 for late submission of the SIT.