On 28 November 2025, the Cyprus Tax Department (“CTD”) issued an announcement informing all taxpayers that the Council of Ministers, in its latest meeting, decided to extend the submission deadline for the Income Tax Return for persons required to submit a SIT for their controlled transactions for tax year 2023 and 2024, as follows:
•Income Tax Return 2023: extension until 31 March 2026
•Income Tax Return 2024: extension until 30 November 2026.
Failure to comply with the above provisions will result in the imposition of an administrative fine of €500, in accordance with the Assessment and Collection of Taxes Law.