Cyprus taxpayers have been granted additional time to meet their 2024 individual income tax obligations. A new decree approved by the Council of Ministers extends the submission deadline for individual income tax returns (Form TD1) until 30 September 2025 at 23:59. This extension provides individuals and certain self-employed persons with much-needed flexibility to fulfil their tax responsibilities accurately and on time.
Extended Deadline for Form TD1 Submission
According to the official announcement, the extension aims to facilitate taxpayers and ensure a smoother compliance process. Specifically, it applies to:
- Individuals who are not self-employed.
- Self-employed persons who are not obliged to prepare audited or reviewed financial statements.
The new deadline allows taxpayers to complete and submit their income tax returns for the 2024 tax year without the undue pressure of the original timetable. It is important to note that individuals and professionals covered by this extension should still ensure timely preparation of relevant documents to avoid last-minute challenges or inaccuracies.
Why This Extension Matters
The extended timeline helps taxpayers better manage their financial obligations, especially in a period marked by economic uncertainty and evolving regulatory requirements. By providing more time, the government supports accurate tax filing, minimises potential errors, and reduces the risk of penalties associated with late submissions.
Eurofast’s Take
At Eurofast, we encourage all affected taxpayers to use this extension proactively by organising their income records and ensuring compliance well before the new deadline. Our experienced tax team can assist individuals and self-employed professionals in preparing accurate Form TD1 submissions, optimising tax positions, and avoiding unexpected liabilities. By staying ahead of tax obligations, you can reduce stress and focus on your personal or professional goals with confidence.
For further queries, please, contact us at [email protected]