Tax Number In Cyprus: An Expats Guide
Embarking on the quest for a Cypriot tax number is the first step towards unlocking the treasures of this island’s economy, whether you’re setting sail on a new business venture or anchoring down as a new resident. Don’t Worry! We’ve got your back!
This guide is your map to the realm of tax identification, designed to navigate you through the process with the ease of a Mediterranean breeze. Let’s chart the course to obtaining your tax number in Cyprus, making sure no detail is left unexplored.
Let’s dive in!
What Is The Tax Number In Cyprus?
The TIN consists of its first eight digits being numeric and the last being a Latin letter (English). All new TINs/TICs start with the number six e.g., 60000000A, with the last alphabet acting as a control.
This number is permanent and does not change when you relocate within Cyprus etc.
On the other hand, the tax number for business or freelance activities may change due to a change in the registered address.
You will receive your tax identification number upon registration with the tax department.The TIN/TIC can be found on official tax documents, correspondence from the Cyprus tax office (e.g. letters and forms), or by contacting the Cyprus tax office directly.
Steps To Get Tax Identification Number In Cyprus
To obtain a Tax Identification Number (TIN) in Cyprus, the following steps are typically followed:
- Complete The Application Form: Fill in form TD2001
- Prepare Required Documents: Depending on your citizenship status, you will need to provide specific documents. These include a copy of your Identification Card (ID) for Cypriot citizens, a ‘Registration Certificate’ for EU citizens resident in Cyprus, or a ‘Permanent Residence Certificate’ for non-EU citizens resident in Cyprus.
- Submit The Application: Email your documents to the relevant tax office depending on your location in Cyprus.
- Indulge With The Tax Office: A representative from the Cyprus tax office will contact you via e-TIC and TAXISnet login codes, which are necessary for registration in TAXISnet. Make an effort to not lose these codes as they are important for the completion of your TIN.
- Ensure Accuracy And Completeness: Verify that your tax form is appropriate before submission.
- Register In TAXISnet: Look out for any further instructions by the tax office until you receive your TIN.
What If You Have Lost Your Tin?
If you have lost your Tax Identification Number (TIN) in Cyprus, you can obtain a duplicate by contacting the Cyprus tax office.
The application to obtain a TIN is handled by the tax department, and individuals can request a duplicate TIN by following the necessary procedures and providing the required information to the Cyprus tax office.
What Is The Freelance Tax Number In Cyprus?
In Cyprus, freelancers are required to register to pay income tax and obtain a tax identification number (TIN). This tax number is specifically for your business and is thus separate from your individual TIN.
To register, freelancers must submit form TD 2001 to apply for a tax ID number, along with disclosing all banking details. This form can be submitted to the nearest tax office.
Additionally, freelancers may need to register for VAT if their projected gross income exceeds €15,600 annually.
The VAT registration process involves filling out an original application form and providing proof of performing business functions in Cyprus, such as an official document like a copy of an invoice or contract for services.
Furthermore, freelancers in Cyprus are subject to social insurance contributions, with a rate of 15.6% collected on their earnings.
The tax number for freelancers is the same in appearance as the Tax Identification Number used by other individuals.
What Is The VAT Number In Cyprus?
The VAT number in Cyprus is a unique identifier that businesses receive when they register for VAT with the Cyprus Tax Department.
The VAT registration form should include details about the business in addition to supporting documentation such as a VAT certificate to prove registration for VAT elsewhere in the EU if possible, articles of association, memorandum, and evidence that the value of taxable supplies has exceeded the registration threshold.
An example of the appearance of VAT numbers in Cyprus is CY99999999L.
Once a business has its VAT number, it is allowed to commence trading and charging Cyprus VAT.
It must comply with the Cyprus VAT compliance rules and file regular returns. The process of obtaining your VAT number generally takes about one month.
Should you have tax-related questions about your own business, we strongly advise you to talk to a certified tax consultant.
Conclusion
As our voyage to securing a Cypriot tax number comes to an anchor, remember, this number is more than just a series of digits—it’s your key to a seamless integration into the island’s vibrant economic tapestry.
With this guide, you’re now well-equipped to sail through the process confidently. Here’s to smooth sailing ahead in your financial and professional endeavors in Cyprus!
Tax Empowered!
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