On 28 September 2026, the Cyprus Tax Department published comprehensive guidance for the 2025 personal income tax return filing season. The guidance covers updated tax brackets, allowable deductions, tax credits, and electronic submission procedures via the TAXISnet platform. The filing deadline for individuals is set for 31 July 2026, with extensions available upon request. The department emphasized the importance of accurate reporting of worldwide income for tax residents and highlighted new reporting obligations for crypto-asset transactions and foreign property holdings.
Key Takeaways
- Updated Tax Brackets and Rates: The 2025 tax brackets have been adjusted for inflation, with the tax-free threshold increased to €19,500. Progressive rates range from 20% to 35% for income exceeding €60,000. Special contribution for defense (SDC) rates on dividends and interest remain at 17% and 30% respectively.
- Enhanced Digital Filing: The TAXISnet platform now includes pre-filled data from employers, banks, and the land registry. Taxpayers must verify pre-filled amounts and declare any additional income. The system supports digital signatures and automated calculation of tax liability.
- New Reporting Requirements: For the first time, taxpayers must disclose crypto-asset holdings and transactions exceeding €1,000 annually. Foreign real estate ownership must be reported with address, acquisition cost, and rental income. Non-compliance may trigger automatic audits and penalties up to €5,000 per omission.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement