Filenews 3 August 2023 - by Eleftheria Paizanou
From September, after the end of the summer holidays, most taxpayers will choose to submit their income returns for the 2022 tax year, as a small number of citizens have complied with their tax obligations for the time being.
Within 19 days, according to data from the Tax Department, a total of 39,500 taxpayers have processed their tax returns. Of these, 31,000 taxpayers have definitively submitted their tax returns and another 8,500 have processed their return, placing it on provisional receipt. With provisional receipt, taxpayers simply fill in the returns without submitting them definitively.
The Commissioner of Taxation, Sotiris Markides, speaking to "F", reminded that in order for the return to be considered submitted, a final submission must be made. He indicated that for the tax year 2021, a total of 4 thousand. Tax returns remained in provisional receipt, resulting in a fine of €100 imposed on taxpayers due to late submission of returns.
For tax year 2021, approximately 275,500 tax returns had been definitively filed.
This year, the submission of tax returns was delayed due to the non-timely approval of the bill concerning the granting of tax relief by the state to high-paid executives of companies abroad, in order to attract them to Cyprus. In fact, due to this delay, the period for submitting tax returns was extended.
The filing of tax returns began on July 15 and will end on October 2.
It is worth noting that despite the fact that the submission of tax returns is mandatory for all taxpayers, however, for another year, by decree of the Council of Ministers, citizens with annual incomes below €19,500 will be exempted from the obligation. [However if you have been resident here for 17+ years you must submit a return for the defence levy tax, regardless of your income level]
For the tax year 2022, income declarations are made through the TAXISnet system, while from 2024 the submission of tax returns will be done through the new Tax For All system.
The tax return for 2022 preserves all the automations that have been introduced in recent years for faster and easier filling by taxpayers.
Specifically, the retrieval of data from the Treasury and the Social Insurance Service for Pensioners and Self-employed is available, while automatic calculations of Totals, Income Tax, GHS, Special Defence Contribution are made.
As the Superintendent explained, a new service has been added and at the last stage of filling in the return, once it has been definitively submitted, there is a link that guides the taxpayer for the immediate payment of any tax debt that has been created automatically, upon final submission of the return.
Taxpayers who have already registered with TAXISnet will use the same codes.
Also, for the Tax Portal apply the same passwords that the taxpayer has to access TAXISNet.
