Relief from Penalties for the IR4 and the TSI for 2022

On 12 February 2025, the Cyprus Tax Department (“CTD”) announced that, by decision of the Commissioner of Taxation, no administrative fines will be imposed on taxpayers for late submission of the Income Tax Return (“TD4”) and the Table of Summarized Information (“TSI”) for the tax year 2022, provided that the filing is completed by 31 May 2025.

Please note that we will not be able to guarantee meeting the deadline of 31 May regarding the tax year 2022 for requests received after 15 April.

Should you like to further discuss the content of the legislation and potential impact to your business, please contact one of our trusted advisors from the Tax department at KPMG in Cyprus.