The purpose of this Tax Alert is to provide information on how to make tax payments to the Cyprus Tax Department via bank transfers.

Α. PAYMENT GUIDELINES

Prior to making the tax payment, the tax payer should ensure that the payment is conclusive of the capital plus interest or penalties if any. Therefore, it is advisable to contact the tax consultant prior to making the bank transfer in order to ensure that all interest and penalties have been taken into consideration.

For the purpose of interest calculation the payment date is considered to be the bank transfer date to the Central Bank of Cyprus (value date). Any currency differences on payment will burden the tax payer

All bank transfer orders should include the following details:

• Contact person in Cyprus (i.e. Audit firm/ Tax Consultant)
• Tax Payer’s name, Tax Identification Number (TIC) and Address
• Details of the taxes to be paid (i.e.Tax Year/Details of tax payment/Amount)

The Cyprus Tax Department (TD) should be notified (either directly by the tax payer or its Cyprus representative) as soon as possible and no later than one week from the date of making the payment by submitting the following documents:

• Copy of the payment instructions
• Completed self-assessment tax form for taxes paid

Upon payment, tax receipts will be forwarded to the tax payer. 

B. ACCOUNT DETAILS

The TD account details for making the bank transfers are as follows:

Bank: Central Bank of Cyprus
Bank Swift Code: CBCYCY2NFBU
Account Number: 6001094 - Inland Revenue Department
IBAN: CY76 0010 0001 0000 0000 0600 1094

C. BANK TRANSFER INSTRUCTIONS

• Bank transfer in Euro currency (Euro being the local currency in Cyprus)
  If the transfer will be in Euro then the bank should be instructed as follows:
  “Please remit to the Central Bank of Cyprus (SWIFT CODE:CBCYCY2NFBU) the amount of EUR…………….(Note 1) through TARGET 2 for the credit of the Tax Department, account no. CY76 0010 0001 0000 0000 0600 1094”.

• Bank transfer in Foreign currency
  Depending on the currency used, it is preferable to make the transfer through the bank agents designated by the Cyprus Central Bank and the bank should be instructed as follows:
  “Please remit the amount of……………. (Note 1) to…………….(Note 2) for the credit of the account no. ……………… (Note 3) of CENTRAL BANK OF CYPRUS, Nicosia (SWIFT CODE:CBCYCY2NFBU) for further credit to the Tax Department, a/c no. CY76 0010 0001 0000 0000 0600 1094”.
  Note 1: The amount should be included in numerical form and written in full.
  Note 2: State the name of the overseas bank which acts as an agent of the Central Bank of Cyprus (CBC).
  Note 3: State the CBC account number of the overseas bank acting as CBC’s agent.

D. AGENTS OF CENTRAL BANK OF CYPRUS

• For bank transfers in British Pounds (GBP):
  NATIONAL WESTMINSTER BANK PLC
  International Trade and Banking Services,
  Overseas Branch Operations,
  King’s Cross House,
  200 Pentoville Road,
  London N1 9HL
  Swift Code: NWBKGB2L
  Sort Code: 6068028 (only for BACS)
  Account No. 04487591

• For bank transfers in United States Dollar (USD)
  JP MORGAN CHASE BANK N. A.
  1 Chase Manhattan Plaza,
  New York, New York 10081
  Swift Code: CHASUS33
  Account No. 5447 11601

• For bank transfers in Japanese Yen (JPY)
  THE BANK OF TOKYO-MITSUBISHI LTD
  Foreign Remittance Dept.,
  Global Service Banking Division,
  P.O.Box 191 Nihombashi,
  Tokyo 103-91
  Swift Code: BOTKJPJT
  Account No. 653-0417491

• For bank transfers in Swiss Franc (CHF)
  UBS AG,
  45 Bahnhofstrasse,
  8021 Zurich,
  Switzerland,
  Swift Code: UBSWCHZH
  Account No. 0230-8591805L

• For bank transfers in Canadian Dollar (CAD)
  ROYAL BANK OF CANADA
  International Trade Centre,
  180 Wellington St. W., 9^th Floor,
  Toronto Ontario M5J 1J1
  Swift Code: ROYCCAT2
  Account No. 095912186948

• For bank transfers in Swedish Krona (SEK)
  SKANDINAVISKA ENSKILDA BANKEN
  Sergels Torg 2,
  S-106 40 Stockholm,
  Swift Code: ESSESESS
  Account No. 5201 85 319 72

• For bank transfers in Danish Krone (DKK)
  DANSKE BANK,
  12 Holmens Kanal,
  DK-1092 Copengagen K,
  Denmark
  Swift Code: DABADKKK
  Account No. 3007509308

• For bank transfers in Australian Dollar (AUD)
  NATIONAL AUSTRALIA BANK LTD
  GPO Box 84 A
  500 Bourke Street
  Melbourne, VIC 3000 Australia
  Swift Code: NATAAU 33032
  Account No. 180 310 795 6500