On 12 February 2025, the Cyprus Tax Department announced (available in Greek only) that taxpayers with related party transactions, as defined in section 33 of the Income Tax Law, who have an obligation to file a summary information table (SIT) by 28 February 2025, will not face administrative fines if their corporate income tax return (TD4) and SIT filings are made by 31 May 2025.
Following an additional announcement (available in Greek only) on 13 February 2025, it has also been clarified that the submission of the TD4 and income tax return for self-employed individuals (TD1 self-employed) with the obligation to prepare accounts, will be accepted until 31 May 2025 without penalties, even in cases where the taxpayer has no obligation to file a SIT.
If taxpayers file these returns after 31 May 2025 administrative penalties will be applied, as detailed below:
- An administrative penalty of EUR 500 for the late submission of the SIT for the 2022 tax year; and
- An administrative penalty of EUR 100 for the late submission of the TD4 and TD1 self-employed with an obligation to prepare accounts for the 2022 tax year.
No Penalty for missing 28.2.2025 deadline for 2022 TD4 and SIT announced - New deadline