Filenews 4 July 2023
The Department of Taxation informs that the amending law N51(I)2023, which provides for the exemption of remuneration from employment in the Republic of a person who was not resident in the Republic for a period of 15 consecutive years immediately prior to the commencement of his employment in the Republic, has been published in the Official Gazette of the Republic.
The amending law has retroactive effect from January 1, 2022 and the relevant provisions affect the Individual's Income Statement 2022.
The Tax Department acted promptly on the changes, sending a request to the partner company in Greece, and the process of finalizing the Return is at an advanced stage.
It is expected that the process of changes and control will be completed soon and the Individual's Income Statement 2022 will be posted on the TAXISnet system for submission.
The public will be informed through announcements and/or e-mails about the commencement of the submission of the Statement.
It is reminded that the deadline for submitting the Individual's Income Declaration 2022 and paying the tax is October 2, 2023 and that employees, pensioners and self-employed persons, whose gross total income for the year 2022 is greater than €19,500, are obliged to submit a Declaration, as are those who have lived in Cyprus for 17+ years who have a lower income than €19,500 but must declare interest from their savings/investments and pay the defence levy.
