REMINDER: 2025 First Provisional Tax Instalment – Due by 31 July 2025
The deadline for payment of the 1st provisional tax instalment for tax year 2025 is 31 July 2025.
Who is required to pay provisional tax?
Provisional tax must be paid by the following taxpayers based on their expected annual taxable income for 2025:
- Companies with taxable income and no carried-forward tax losses from prior years
- Individuals with taxable income other than salaries, pensions, dividends, and interest.
When is provisional tax payable?
- First instalment: Statutory deadline for the submission and payment of first instalment 31 July 2025 with an effective deadline (no interest or penalty) of 31 August 2025.
- Second instalment: Statutory deadline for the submission and payment of second instalment 31 December 2025 with an effective deadline (no interest or penalty) of 31 January 2026.
How can provisional tax be submitted / paid?
- Create the provisional tax obligation through the Tax Department’s Tax Portal: https://taxportal.mof.gov.cy.
- Pay using one of the following methods via the icons next to your Payment Reference Number (PRN):
- Credit/debit card
- Online banking
Important Notes
- No return is required if there is no taxable income or if the liability is fully offset by overseas tax credits.
- You may revise the return through the taxportal. Downward revisions cannot result in a refund. Upward revisions after 31 August will attract interest at 5.5% p.a.
- Failure to pay instalments on time incurs 5.5% interest per annum (per complete month) and a 5% penalty.
- If declared provisional income is less than 75% of actual taxable income, a 10% additional tax will apply on the difference.
We are available for any additional inquiries or clarifications you may require.