Filenews 27 September 2025 - by Eleftheria Paizanou
A few days before the expiration of the date for the submission of tax returns for employees and self-employed for the tax year 2024, around 47,000 taxpayers have not complied with their tax obligations.
According to data from the Tax Department, around 84% of taxpayers have definitively submitted their income returns. Specifically, 269,737 thousand taxpayers have submitted their final tax returns. These are 245,008 employees and 24,729 self-employed.
In the 2023 tax year, they had submitted their final tax returns in relation to 317,400 taxpayers. At the same time, another 17,849 thousand have been placed in temporary receipt. That is, they have processed them without having submitted them definitively. A total of 15,605 employees and 2,244 self-employed have placed it in temporary receipt.
In total, around 288,000 taxpayers have processed the tax returns, which corresponds to 89% of last year's taxpayers. It is worth noting that 322,330 taxpayers had processed their tax returns and 317,400 submitted them definitively. Therefore, for about 5,000 taxpayers, a fine of €100 was imposed.
At the end of the month, the deadline ends
The submission of tax returns ends on Tuesday, September 30 at midnight and as "F" is informed, no new extension will be given. The Commissioner of Taxation, Sotiris Markides, called on taxpayers to comply with the schedules and submit their income returns on time.
He said, at the same time, that taxpayers had about five months at their disposal to comply with their tax obligations, which is why no new time credit will be given. In fact, he called the 18,000 taxpayers who have placed the tax returns in the provisional receipt to submit them definitively. As he explained, the temporary receipt does not mean that the tax is submitted. Concluding, he noted that those who submit their tax returns from October onwards will be subject to the penalties provided by law and a fine of €100 will be imposed.
It should be noted that along with the submission of tax returns, the tax due is also paid. It is recalled that the submission of income returns for the tax year 2024 began on April 30 and would initially be completed around the end of June.
However, on June 20, by decree of the Council of Ministers, it was extended until September 30. It is reminded that employees, pensioners and self-employed persons whose gross total income for the tax year 2024 exceeds the amount of €19,500 are obliged to submit an income declaration of a person without accounts for the tax year 2024. The declaration is submitted through the TaxisNet system at https://taxisnet.mof.gov.cy.
Last time
It is noted that this may be the last time that tax returns are submitted based on the specific tax data and the current model, as if the legislation for the tax reform is approved, a lot will change.
The Government wants the reform to be implemented on January 1, 2026 and the income declarations for the tax year 2025 to be made with the new data. Among other things, the reform increases the tax-free allowance for all taxpayers to €20,500.
At the same time, additional tax deductions will be granted depending on the composition of the family. Specifically, as long as the family income does not exceed €80,000 for the majority of taxpayers and €100,000 for large families and in the case of single persons does not exceed €40,000, the discounts will be granted.
Specifically, for each dependent child, each parent will receive a discount of €1000, while in the case of a single-parent family or in the case of parents who are not spouses or cohabitants and one parent has full custody of the dependent children, a discount of €2,000 per dependent child is granted to the parent who has custody, with the exception of the student, and no discount is granted to the parent who does not have custody.
A tax deduction of €1000 for each student will be received by parents (€1000 each) who are not spouses. In addition, each spouse or cohabitant or single person will receive a tax deduction of €1500 for the tons paid in relation to a performing housing loan within the Republic or to cover the cost of rent paid in relation to the use of the main residence.
Tax deductions will be granted to taxpayers whose permanent residence is in the Republic, the loan is in a bank in Cyprus and they do not have any other residence in the country. It is noted that the tax deduction will be reduced if the taxpayer receives any other sponsorship from the state.
