Income tax return for 2025 expected on TAXISnet by end of week

Economy economytaxTop News Income tax return for 2025 expected on TAXISnet by end of week F2 Taxisnet Id 573284 1024x573 Relevant News Income tax return for 2025 expected on TAXISnet by end of week 14 June 2026 Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release 14 June 2026 Two Spanish passengers held at Paphos airport over undeclared tobacco 14 June 2026 Newsroom 14 June 2026 FacebookXWhatsAppEmailPrintViber The personal income tax return for 2025, without accounts, is expected to be posted on TAXISnet by the end of the new week, marking the start of the submission process. Tax Commissioner Sotiris Markides said the deadline for submitting the return, as well as for paying any taxes and contributions, has been set for October 31, 2026. Once the return is posted on TAXISnet, taxpayers will be able to submit it electronically for the 2025 tax year within the set deadline. Markides said the number of returns for 2025 is expected to be slightly higher than the 337,400 returns that were finally submitted for 2024. “We want to assure taxpayers that we have taken all appropriate steps to allow all necessary time for compliance by individuals who have this obligation,” he added. For this purpose, Markides said, under decree KDP 260/2026, issued on Friday, June 12, 2026, following a Council of Ministers decision, the deadline for submitting the return and paying any taxes and contributions due, without interest or charges, is October 31, 2026. The Tax Commissioner reminded taxpayers that employees, pensioners and self-employed people whose gross income for 2025 exceeds €19,500 are required to submit a personal income tax return for the 2025 tax year. He said late submission of the 2025 personal income tax return carries a €150 penalty, compared with €100 for late submissions in previous years. The increase was introduced as part of the tax reform and is aimed at strengthening tax compliance. Referring to the content of the 2025 personal income tax return, Markides told CNA that all automations that significantly help taxpayers complete the return have been retained. He said that, by entering identification details — social insurance number, date of birth and gender — the system automatically fills in the pension amount and related deductions, including income tax and Gesy contributions, using data from the Treasury and the Social Insurance Services. He added that, when the same identification details are entered for people earning income as self-employed workers, the system retrieves and automatically fills in Social Insurance and Gesy contributions. In some parts of the return, information declared in the previous tax year is pre-filled, including employer details such as tax identification number and name, as well as insurance company details, including tax identification number, name, start date and insured amount. “As in previous years, the system automatically calculates the total amounts and transfers the relevant information to the ‘Tax calculation’ section, where the amount of income tax, Gesy contributions and Special Defence Contribution is calculated,” Markides said. Markides also urged taxpayers to ensure that the return is finally submitted. He said returns marked as “temporarily received” are not considered to have been received and remain pending. “Immediately after the final submission of the return, where an amount of tax and/or contribution is payable, the debt is created on the Tax Portal and must be paid electronically by the deadline, without interest or charges,” he added. Markides told CNA that last year, by the deadline for timely submission of the 2024 personal income tax return, 342,600 returns had been processed and 337,400 had been finally submitted. “This year, a slightly increased number of returns is expected to be submitted due to the continued expansion of the tax base,” he said. Subscribe to our Newsletter Latest News Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release Two Spanish passengers held at Paphos airport over undeclared tobacco Motorcyclist killed in Skarinou motorway crash after trying to avoid dog US, Iran inch closer to deal, Trump says Sunday but timing remains unclear Digital payments surge in Cyprus as fintech reshapes banking Nicosia-Limassol motorway reopens after crash Cyprus weather warning as storms and hail forecast Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.