Filenews 21 June 2022
Only about 25% of taxpayers processed by June 20 the Statement of Income of a Person without Accounts for the tax year 2021, while the deadline for filing the Return is July 31, 2022.
Specifically, in statements to the CNA, the representative of the Tax Department, Sotiris Markides, who has been appointed by the Public Service Committee (EDY) to the position of Superintendent of Taxation, with effect from July 1, 2022, said that by June 20, 2022, 71,000 taxpayers (64,000 Employees and 7,000 Self-Employed), of whom about 59,500 have definitively submitted their Returns and 11,500 have their Statements In Temporary Receipt.
He noted that for the 2020 tax year, the number of taxpayers who submitted a Person's Income Statement without Accounts was about 280,000.
Mr. Markides urged taxpayers to proceed with the completion and Final Submission of their Return and "not to wait for the last days of filing the return to do so".
Stating that the Statement of Income of a Person without Accounts for the tax year 2021 has been posted on time, since the beginning of April on the TAXISnet System, he noted that the deadline for the submission of the Income Statement of a Person without accounts for the tax year 2021 and for the payment of the tax due without interest and charges is July 31, 2022.
He also mentioned that the obligation to submit an Individual's Income Statement for the tax year 2021 has Employees, Pensioners and Self-Employed Persons whose gross total income for the tax year 2021 exceeds the amount of €19,500 [NB and if you have been in Cyprus for 17+ years you must declare income from overseas investments, regardless of income level].
Pre-filled as of this year the pension data from the General Accounting Office
Referring to a new development in relation to the Statement, Mr. Markides told the CNA that as of this year the Statement includes pre-completed, in addition to the Pension and Self-Employed Data, income tax withheld for Pensioners and Self-Employed persons and the GHS from the Social Insurance Services, and the Pension data from the General Accounting Office.
He added that "these data allow the completion of the Declaration without the need for the use of relevant certificates by Pensioners and Self-employed persons by the Public Services".
"With the changes made this year and in previous years along with all the automations, the process of filing a return combined with the fact that taxpayers have become familiar with the electronic filing of tax Returns, the time required for pensioners and employees to complete the Return by Pensioners and Employees with income only from salaried services, is minimal", is minimal", he said.
According to the representative of the Tax Department, through the Statement in Part 1, taxpayers are given the opportunity to check the contact details and update them if necessary, while in the last part before the Tax Calculation, as he said, "the registration of necessary data for the identification of taxpayers is required in view of the upcoming implementation of the new Tax For All computerized system".
He mentioned that taxpayers who have already registered with TAXISnet will use the same codes, while in case someone has lost or forgotten the taxisnet passwords, as he explained, the recovery and sending of new codes is done automatically through the TAXISnet website (https://taxisnet.mof.gov.cy) by selecting "I forgot my Passwords" and entering the Tax Identification Number (TIN) and the e-mail address.
He noted that for the Tax Gateway, the same passwords that the taxpayer has for his/her access to the TAXISNet System apply and it is noted that all electronic payments take 1-2 business days to appear in the Payment Statement.
Finally, Mr. Markides called on all taxpayers who have a tax payable to settle it either through JCCSmart (only for timely payments that do not carry interest and charges) or by registering the debts through a Tax Portal and paying through internet banking.
