The self-employed persons have the obligation of self-taxation, that is to pay the Income Tax payments themselves. Payments are made in two installments: by 31/7 of the year for the 1st semester and by 31/12 for the 2nd semester. The best way to comply with self-taxation is through the tax portal https://taxportal.mof.gov.cy/Account/Login , the passwords are the same as for taxisnet.

Here you must create a statement of the income tax assessment for the current year before 31/7 (tax code 200) and automatically the system creates 2 payment obligations of equal value per 1st and 2nd semester, the 1st payment installment is paid until 31/7 and the 2nd payment installment until 31/12. If the final tax is greater than the estimate, then an additional debt statement must be created, if it is less than the estimate, then the relevant form for the Self-Employed must be completed and sent to the Income Tax Department.

CAUTION! If the assessment in the middle of the year was lower than 75% of the final amount then an additional tax of 10% is imposed on the difference.