Our valued sponsor

Temporary Tax 2012

JohnLocke

Administrator
Moderator
Dec 29, 2008
14,466
3
7,981
131
Europe
Visit site
A provisional assessment of the taxable profit for 2012 should be made and filed by 31/08/12 the latest to avoid any penalties and interest on resulting taxes.


Any taxes due must be paid in 3 equal instalments as follows:


- 31/08/2012


- 31/10/2012


- 31/01/2013


The provisional assessment should cover at least 75% of the final taxable profits, otherwise, there will a 10% penalty on the difference between final tax to be determined and provisional tax paid.


The difference between final tax determined and provisional tax must be paid by 31/08/13 the latest.


Please let us know if you are expecting a taxable income for 2012.


Clients that have a company through CCLOGIC can contact us here Select a department - Offshore Company Formation - for any questions they may have.
 
divx said:
Does this apply for Investment Companies in Cyprus too?
You will have to file the tax to be 0% for 2012 also for investment companies.
 
jim said:
Is this for Cyprus company only? and if we don't have activity the first year will we have to pay this temporary tax anyway? if so what amount?
If so, there is no temporary tax to be paid.
 
Then you will be liable for temporary tax, failing to submit such will get your company closed.