On 4 July 2024 the Tax Department announced that it is possible to submit the Employer’s Return For Withheld Taxes & Contributions (TD7) for the years 2019 onwards (i.e. Years 2019 to 2023) without the imposition of an administrative fine, by 31st October 2024.
After that date, there will be imposition of administrative fines for late submission in accordance with the legislation.
Effectively the Tax Department has provided a grace period for submission of TD7 returns for years 2019-2023, for any employers who were not already in compliance.
Aside from the above grace period for TD7 returns for years 2019-2023, the regular annual deadline for the submission of a TD7 is the 31st May of the subsequent year.
As always, at Kyriakides, Savvides & Associates Ltd, we are at your disposal should you require any further information or clarifications on this or any other tax issue.
