The Cyprus Tax Department has recently announced a change in the method for taxpayers in settling their tax liabilities as from May 3, 2023, and the release of a new updated version of the Stamp Duty Calculator.
Pursuant to the announcements, taxpayers are advised that tax payments can no longer be executed through JCC Smart, only via the Tax Portal. Log in credentials to the tax portal remain the same as those used to access Taxisnet. Any tax liabilities due, which can be found under the category “Statements of Due Amounts”, can either be settled through (i) online banking using the “payment reference number” issued in the Tax Portal or (ii) using a debit/credit card.
It should also be noted that Stamp Duty on any Corporate Contracts, Revised Contracts, or overdue Contracts (exceeding 30 days from the date of signing) is calculated at the District Offices ONLY.
Please contact our Tax Planning and Advanced Business Structuring department who can assist you in any queries arising from either announcement.