Taxes	Due Date
PAYE deducted from employees’ salaries for the previous month.	End of each month
Defence contribution deducted from dividends, interest or rent* paid for the previous month
Submission of the deemed dividend distribution declaration for the tax year 2008.	31 January
Submission of personal tax returns for 2010 by salaried individuals whose gross income exceeds €19.500	30 April
Submission of employers’ return and employees’ details for 2010.
Payment of provisional tax by insurance companies (life business) for the first four months of 2011.
Submission of personal tax return for 2010 by individuals who do not prepare audited accounts if their gross income exceeds € 19.500.	30 June
Payment of tax balance for 2010 through self assessment by individuals who do not prepare audited accounts.
Payment of special contribution for defence in relation to rents, dividends or interests from sources outside Cyprus for the first half of 2011.
Submission of provisional tax assessment for 2011 and payment of the first installment.	1 August
Payment of 2010 tax balance through self assessment by individuals and companies preparing audited accounts.
Payment of provisional tax by insurance companies (life business) for the second four months of 2011.	31 August
Payment of the second installment of 2011 provisional tax.	30 September
Payment of immovable property tax for 2011.
Submission of 2010 tax returns for individuals and companies preparing audited accounts.	31 December
Payment of the third installment of 2011 provisional tax.
Payment of special contribution for defence in relation to rents, dividends or interest from sources outside Cyprus for the second half of 2011.
Payment of provisional tax by insurance companies (life business) for the last four months of 2011.

As from 1st July 2011.

* Companies, partnerships, the Government or any local authority that pay rent have an obligation to withhold special defence contribution on the amount of the rent paid.

Electronic submission of tax returns
Individuals and companies, that prepare audited financial statements or persons that their tax return is submitted by a professional accountant, may be obliged to submit their tax return electronically in accordance with such means that may be approved by the Commissioner of Income Tax. In case of such electronic submission of tax returns, the deadline is extended by 3 months.

Administrative penalties
Administrative penalties amounting to €100 or €200 depending on the specific case, will be imposed for late submission of declarations or late submission of supporting documentation requested by the Commissioner. In the case of late payment of the tax due, an additional penalty at the rate of 5% will be imposed on the unpaid tax.

Note:
The rate of interest for late payment of tax is determined by the Minister of Finance through a decree and it is applicable for the whole year. The rate for 2011 was set at 5%.