Registering for tax
Registering for Tax
In order to take advantage of the benefits offered by the low Cyprus tax rates it is necessary to register yourself as being a tax resident. Anyone who spends more than 183 days in a calendar year is automatically a tax resident here.
The first step is to register with the Immigration office. Visit the Immigration offices and make an appointment. At that time they will issue a list of documents that you will need to bring with you to the appointment. These will include
◾Proof of residence ( title deeds, sales agreement, rental contract )
At the end of that appointment you will be issued with a yellow residency permit.
To register for tax you take this form to the Tax Office, and, if you have UK pensions, take form DT/Individual filled in with details of your UK pensions. This will then be sent by the Cyprus Tax Office to HM Revenues & Customs (HMRC), who will then instruct your pension provider to stop deducting tax from your pension.
Paying Tax in Cyprus Income tax in Cyprus is due in three instalments, the first by 1st August (half the estimated tax), the second by 31st December (the balance of estimated tax) and a final mop up payment by 30th June the following year. Defence Contribution (on overseas interest and dividends) is due in two instalments, the first on the 30th June and the final payment on 31st December. Following recent changes, non-Cypriot domiciles are no longer subject to defence contributions on overseas investment income.
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