Cyprus Tax Department extends penalty-free deadline for income tax returns

The Cyprus Tax Department has announced that the formal deadline for submitting Company (T.D.4) and Individual (T.D.1 Acc.) income tax returns for those required to prepare audited or reviewed accounts is March 31, 2026. This deadline applies regardless of whether the taxpayer is obligated to submit a Summary Information Table for Controlled Transactions under Article 33(10) of the Income Tax Laws. However, the Tax Commissioner has issued a decision granting a grace period for filings. No financial penalties will be imposed as long as the tax returns are submitted by April 30, 2026. This administrative measure is governed by the provisions of the Income Tax Laws of 2003 through 2025 and is specifically referenced in regulation K.D.P. 358/2025. Taxpayers are advised to ensure their filings are completed within the extended window to avoid potential surcharges. This applies to all entities and individuals falling under the specified audit requirements.