A new exchange rate apply for Cyprus Tax returns to Estimate 2016 Tax payments for overseas income not taxed at source.
This is payable by the Expats Retired with overseas pension income and Self Employed in Cyprus. Those with pensions paid overseas cyprus tax is payable from July but is not overdue until December.
The half year exchange rate may not reflect the current rate or year end, but the balance is based upon the average exchange rates at the year end.
Tax Returns Due this Month
Half year Cyprus Tax returns and payments are now due. Income tax and special contribution is due. Non-Dom expats have no tax to pay on bank interest and dividend income
Any personal Full 2015 Cyprus returns not so far should be submitted online now - you are overdue in August.
2015/6 UK returns can now be submitted online to claim back tax at source on property and bank interest received.
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Tax Payments Due from July 2016
From July 2016 the first of 2 instalments for 2016 Cyprus or UK income tax can be paid.
Plus any Balance for 2015 Full Cyprus Returns should have been be paid by the end June. While due by 30/6/16 it is not overdue until end July.
1st instalments should be paid in July if income arises with a tax liability in the UK. This may be contracting income overseas or Property Rental income or Royalties or other UK taxable income.
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