Paphos Life

Hello,

When is the tax year for Cyprus please?

Do you have to complete a tax form even if your income is below 19,500 per person?

Have heard that some people are being charged for Gesy via tax even if they have an S1. Has anyone any up to date experience of this?

Many thanks in advance of replies.

sueb wrote: ↑Thu Jan 26, 2023 7:49 pm Hello,

When is the tax year for Cyprus please?

Do you have to complete a tax form even if your income is below 19,500 per person?

Have heard that some people are being charged for Gesy via tax even if they have an S1. Has anyone any up to date experience of this?

Many thanks in advance of replies.

As far as im aware everyone has to summit a tax form, as for Gesy , everyone has to pay,

Yes, everybody has to register for tax, the tax year runs from January to December, tax forms needed to be submitted by September for tax year 2020/21.
To register you need to submit your bank account statements, with meu3 etc.

Its a long time since I did this but as I remember
You need to contact the uk tax office to elect to be taxed in Cyprus
they will send a form which has to be taken to the Cyprus tax office.
The tax year is Jan to DEC.
If you have an s1 you do not have to pay GESY contributions
If your earings are under 1900 you do not need to submit a tax rerturn
I suggest you contact the local tax office for clarifaction.

souniman wrote: ↑Fri Jan 27, 2023 9:07 am If your earings are under 1900 you do not need to submit a tax rerturn

That should read 19000.-.

Uncle D wrote: ↑Fri Jan 27, 2023 6:55 am Yes, everybody has to register for tax, ............

I presume you mean 'everybody who lives in CY'?

jeba wrote: ↑Fri Jan 27, 2023 12:39 pm

souniman wrote: ↑Fri Jan 27, 2023 9:07 am If your earings are under 1900 you do not need to submit a tax rerturn

That should read 19000.-.

Yes sorry should have been 19000.
If you choose to remain taxed in the UK you do not need to register for Cyprus tax otherwise you will be double taxed. However the tax benefits of Cyprus tax means it makes sense to be taxed here.

Here is a link to the various tax offices, I have emailed them in thse past and they were quick in replying.
https://www.mof.gov.cy/mof/tax/taxdep.nsf/all/08CC1795
hth

J B wrote: ↑Fri Jan 27, 2023 1:07 pm

Uncle D wrote: ↑Fri Jan 27, 2023 6:55 am Yes, everybody has to register for tax, ............

I presume you mean 'everybody who lives in CY'?

Of course Jb
why would it apply to someone who lives anywhere else

Uncle D wrote: ↑Fri Jan 27, 2023 3:48 pm

J B wrote: ↑Fri Jan 27, 2023 1:07 pm

Uncle D wrote: ↑Fri Jan 27, 2023 6:55 am Yes, everybody has to register for tax, ............

I presume you mean 'everybody who lives in CY'?

Of course Jb
why would it apply to someone who lives anywhere else

Well, I have a CY tax code (is it called a TIC?) and have had one for many years, does that mean I'm 'registered?
.... I have never done anything about paying or declaring any tax to the CY authorities .... the UK authorities get their fair share!

Should you sell a property in Cyprus then you have to get tax clearance before you will receive the dosh.

This may take a while if you have not submitted any returns for many years.

Nothing in our lives is certain except death and taxes, they get you in the end

Mighty Sprite wrote: ↑Sat Jan 28, 2023 7:09 am Should you sell a property in Cyprus then you have to get tax clearance before you will receive the dosh.

This may take a while if you have not submitted any returns for many years.

Not only take awhile but expensive fines plus interest...

sueb wrote: ↑Thu Jan 26, 2023 7:49 pm Hello,

When is the tax year for Cyprus please?

Do you have to complete a tax form even if your income is below 19,500 per person?

Have heard that some people are being charged for Gesy via tax even if they have an S1. Has anyone any up to date experience of this?

Many thanks in advance of replies.

To answer your questions:
The tax year is the calendar year (Jan to Dec).
At present you don't have to complete a tax form if you don't earn 19,500. It was planned for this year but delayed, so it could change very soon.
People don't get charged for Gesy as such. If you have an S1 then you don't complete that bit of the form and therefore don't pay it. You can get a letter from the Ministry of Health stating you do not need to pay Gesy contributions.

Thank you all for your input.

Josef K - when you say this year do you mean Jan 2022 to Dec 2022?

sueb wrote: ↑Sat Jan 28, 2023 7:18 pm Thank you all for your input.

Josef K - when you say this year do you mean Jan 2022 to Dec 2022?

Yes. Sorry, I meant last year, for which we submit returns this year.