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Fairfax Newsletter July 2025

Delays in the TD7 Declaration Process Due to “Tax For All” System Transition

The transition to the new Tax For All (TFA) system in Cyprus remains ongoing, with some procedural elements yet to be fully implemented. As a result, important changes have been announced affecting the annual TD7 declaration process.

Extension of TD7 Submission Deadline

The submission of the TD7 form, the annual declaration of withheld income tax, is currently not possible via the new TFA system. Authorities have acknowledged the delay and, accordingly, the deadline for TD7 submissions has been extended to 31 December 2025.

This extension offers employers and tax professionals additional time to comply once the system becomes fully operational.

No Change to Payment Procedures

It is important to note that withholding tax payments and social contributions are not affected by the system transition. These payments continue to be processed normally through the existing Tax Portal, as has been the case in previous months.

Looking Ahead

We will continue to monitor developments around the TFA system and will provide updates as new guidance becomes available. In the meantime, we recommend maintaining all internal records up to date in preparation for eventual TD7 submissions.

We remain at your service, should you need further clarifications or assistance from our end. You can reach us on +357 2555 8025 or email accounts@fairfaxyeamen.com.

Deadline Extension for the Submission of Personal Income Tax Returns and Payment of the Due Tax for the Year 2024

The Council of Ministers has approved Decree 176/2025, published in the Official Gazette of the Republic on June 20, 2025. The decree grants an extension for the submission of tax returns and the payment of tax due for the 2024 tax year, applicable to individuals not required to maintain audited accounts.

Specifically, the deadlines for both filing the 2024 tax return and paying the corresponding tax are extended to September 30, 2025 for the following categories:

Individuals who are not self-employed.
Self-employed individuals not obligated to submit audited or reviewed accounts.

If you need further clarification for the above Decree and/or assistance with the submission process, contact us via email on accounts@fairfaxyeaman.com or by calling +357 25558025.

Tax Alert | Submission of Withholding Taxes & Contributions Return (Form T.D.7) for year 2024

On 20th May 2025, the Tax Department of Cyprus announced that the Withholding Tax and Contributions Declaration (TD7) for year 2024 is expected to be available by July 2025, on the TAX FOR ALL (TFA) platform. This means that the Declaration will be available for submission in July.

The deadline for submitting the TD7 Form for year 2024 is 31st October 2025.

As always, the Fairfax team is available to assist with the submission process or any other tax issues you may have on accounts@fairfaxyeaman.com or by calling +357 25558025.

Personal Income Tax Declaration for the year 2024

How do I submit my Income Tax Return? When am I able to submit the declaration? Are there any reasons I could be exempt from submitting income tax declarations? Read below information provided by the Fairfax team to understand how and why you should submit your Income Tax Declaration for the year 2024.

Taxisnet Portal

You can submit your Income Tax Declaration electronically through the Taxisnet System. The System is available in both Greek and English and can be accessed here.

When can I Submit the declaration?

The Fairfax team would like to inform you that the Income Tax Return for individuals for the tax year 2024, is now available on the Taxisnet System and the submission deadline and the payment of any due tax is the 31st of July 2025.

Who needs to complete the submission?

Individuals (Employees, Pensioners and Self-employed persons) with any annual income above €19,500 are required to submit personal income tax return.

Delayed Submission or Non-submission

Late submission of return will result to a penalty of €100.

The Fairfax team is available to assist with the submission process or any other tax issues you may have on accounts@fairfaxyeaman.com or by calling +357 25558025.

Tax Alert | Tax Identification Number Search/Verification for Employees in Connection with Form T.D.7 Submission via Tax Portal

On April 4th, 2025, the Tax Department launched a new online tool on the Tax Portal, enabling employers to search and verify the Tax Identification Number (TIN) of their employees.

This tool allows employers to confirm whether an individual is registered in the Tax Department’s Registry by entering the employee’s ID number or Alien Registration Card (ARC) number or Social Insurance number, along with their date of birth.

Access Requirements
The tool is available exclusively to employers who meet at least one of the following conditions:

Have submitted at least one Employer’s Return (Form T.D.7), or
Have made at least one payment of withheld tax (Code 0100) for the period from January 1st, 2021 onwards.

For detailed instructions, please refer to the user guide available in the ‘GUIDES’ section on the TAX FOR ALL website.

Fairfax remains at your service, should you need further clarifications or assistance from our end. You can reach us on +357 2555 8025 or email accounts@fairfaxyeamen.com .

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