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Extension of Company Income Statement and Controlled Transactions Information Table

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Παραταση Δorλωση ς Εισοδorματος Εταιρελας και Πλν&alpha κα Πληροφοριoν Ελεγχoμενων Συν αλλαγoν

The extension until November 30, 2024 of the date of submission of the Company Income Statement and the Summary Table of Information of Controlled Transactions for the year 2022, only for the companies that have an obligation to submit the Summary Information Table of Controlled Transactions for the year 2022, the Tax Department announced.

In particular, in an announcement, the Tax Department states that according to paragraph 2 of the Code of Civil Procedure. 59/2024, the date of submission of the Company Income Statement for the tax year 2022 by a person who, based on the provisions of article 33(10) of the Income Tax Law of 2002, as amended ( N118(I)/2002), has an obligation to submit a Summary Table of Controlled Transactions Information.

It also states that the date of submission of the summary Table of Information on Controlled Transactions (in accordance with paragraph 5(a) of K.D.P. 314/2022) is extended until November 30, 2024, for the year 2022.

Adds that the Summary Table is only submitted online through the Tax For All (TFA) Taxpayer Portal and will be available within the next few weeks when a relevant announcement will be issued.

< p data-block-key="3v2jd">The Tax Department states that for information regarding the items included in the Summary Table of Information on Controlled Transactions, those interested should consult the Department's website, section Frequently Asked Questions – Transfer Pricing.

It also mentions that, in accordance with Article 50G of the Tax Certification and Collection Law, in case of failure to submit a Summary Table of Controlled Transactions Information by the specified date (11/30/2024) an administrative fine of five hundred euros (€500) is imposed.

Source: reporter.com.cy

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