Cyprus Tax Declaration

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Cyprus Tax Declaration


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Old 27th May 2019, 06:03 PM
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Default Cyprus Tax Declaration

When you do the Cyprus tax declaration as a Cyprus non-dom tax resident, do you have to list all your interest income and bank accounts even though no tax or SCD is owing? (If not, the declaration would be super easy & fast, otherwise it'll be more effort.) Thanks in advance.

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Old 28th May 2019, 06:56 AM
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Originally Posted by sudburyhall View Post
When you do the Cyprus tax declaration as a Cyprus non-dom tax resident, do you have to list all your interest income and bank accounts even though no tax or SCD is owing? (If not, the declaration would be super easy & fast, otherwise it'll be more effort.) Thanks in advance.
Have you registered as a Non-dom? If not, you need to do so. You will receive a confirmation when this is completed. it is referred to in the tax return as TD38

You still need to declare all income and show the years that the TD38 non-dom removes this from the calculation.

Hope this helps

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Old 29th May 2019, 11:18 AM
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Yes, very helpful, thank you. I'm still in planning stages and not yet Cyprus tax resident. But I like to understand what's required.

I found a 2017 Guidance Sheet for the Cyprus Tax Declaration and I see in the SCD section where you list the years of exemption if you've submitted the TD38, which now makes sense.

It looks to me like you calculate SCD due on your interest income, then list the years of exemption based on TD38, but you don't actually nil the SCD due. Do you pay the SCD that would be due and then get it refunded back? (or you simply don't pay it if you're exempt). Regardless, thanks again.

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Old 29th May 2019, 12:11 PM
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I didn't pay the SCD amount.

The form states
' If you have submitted form T.D.38 declare the years of exemption and clear the amounts in the SCD CALCULATION.'

I can't remember if I did this manually or the form formula did it.

I work as a financial adviser and typically I haven't yet completed my own tax return this year so I can't comment further.

When I do I will try to update.

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Old 6th June 2019, 11:50 AM
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We are about to move to Cyprus. Is there a set time when tax returns have to be completed?

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Old 6th June 2019, 11:57 AM
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31 July for tax year 2018 which is Jan 1 2018 to 31 Dec 2018 inclusive. If you move here after 30 June, you will have no liability to Cyprus tax for 2019 as you'll spend less than 183 days in Cyprus (unless you've had holidays here this year already maybe!!)
mikensue26 and Shotokan101 like this.

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