Exemption of natural persons from the obligation to submit an income tax return for the year 2020
August 04, 2021
Ernst & Young Cyprus Ltd
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In exercising the powers conferred on it by the Law on Assessment and Collection of Taxes, the Council of Ministers issued an ordinance (no.
The aforementioned regulation was issued due to amendments to the Law on Assessment and Collection of Taxes, published in the Official Gazette of the Republic on August 20, 2020, according to which all natural persons are required to file a personal income tax return from 2020, subject to one from the Council of Ministers decree to be issued that may provide for conditions for an exception.
The content of this article is intended to provide general guidance on the subject. Expert advice should be sought regarding your specific circumstances.
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