The Tax Department has announced an extension of the time allowed for banks and other financial institutions to submit their corporate tax returns for the 2017 tax year.

Unlike other companies, which must submit their tax returns electronically, banks and other financial institutions must submit a hard copy tax return, giving additional details of their business, by the end of the year following the tax year in question. For the tax year 2017, this deadline has been extended by one month to 31 January 2019.

For further information on this topic please contact Constantinos Christofi at Elias Neocleous & Co LLC by telephone (+357 25 110 110) or email (constantinos.christofi@neo.law). The Elias Neocleous & Co LLC website can be accessed at www.neo.law.

This article was first published by the International Law Office, a premium online legal update service for major companies and law firms worldwide. Register for a free subscription.