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CYPRUS VAT  DIARY – Main Obligations and Deadlines


In this VAT newsletter we outline the main obligations and deadlines deriving from the direct VAT (Value Added Tax) legislation in Cyprus.

It is of great importance to adhere to all obligations and within the prescribed deadlines as non-compliance can result in substantial financial penalties/fines and/or offences/legal action.

Please note that the newsletter does not cover the obligations and deadlines under the TAX legislation. If you are looking for the TAX Diary of 2019 please click the picture below.

 


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TAX Calendar

 

VAT Periods Submission and Payment Date VAT Forms Penalties
VAT Return: 1st VAT period
1/1 – 31/3
1/4 – 30/6
1/7 – 30/9
1/10 – 31/12

10/05
10/08
10/11
10/02
 

VAT 4

 

Late submission results in the imposition of a penalty equal to €51.

Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest 2%*.

VAT Return: 2nd VAT period
1/2 – 30/4
1/5 – 31/7
1/8 – 31/10
1/11 – 31/1

10/06
10/09
10/12
10/03
 

VAT 4

 

Late submission results in the imposition of a penalty equal to €51.

Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest 2%*.

VAT Return: 3rd VAT period
1/12 – 28/2
1/3 – 31/5
1/6 – 30/8
1/9 – 30/11

10/04
10/07
10/10
10/01
 

VAT 4

 

Late submission results in the imposition of a penalty equal to €51.

Late payment of outstanding VAT balance results in the imposition of an additional tax equal to 10% of the VAT balance due and interest 2%*.

Submission of lntrastat return for arrivals from, as well as dispatches to other EU Member States By the 10th of the month following the end of the reporting period, where the arrivals/dispatches were made INTRASTAT 1.1
INTRASTAT 1.2
Late submission results in the impositions of a penalty equal to €15 for every lntrastat return.
Submission of the Recapitulative Statement (VIES) for a taxable person delivering intra-community supplies of goods and/ or services to taxable persons in other
EU Member States
By the 15th of the month following the end of the reporting period, where the supplies were made VIES 1
VIES 2
Late submission of the Recapitulative Statement (VIES), results in the impositions of a penalty equal to €50 for every VIES return.

 

 


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