I am an employee with a salary of €30,000. Tax is deducted by my employer so do I need to complete a tax return?

Tax returns have to be submitted if your gross income is above €19,500.

Also you will need to complete your tax calculation and if any tax is payable (employer may not have deducted the correct tax) then you will need to pay the balance via self assessment.

This change in tax law is effective for the tax year 2014 and any balance of tax due is payable by 30 June 2015.

Previously self assessment only applied to Companies and self employed individuals. Get in touch if you’d like to know more about Tax Returns in Cyprus.