On 12 October 2026, the Cyprus Tax Department issued an announcement introducing a new obligation, effective from tax year 2026, for the completion and submission of the Schedule of Financing Transactions (Πίνακας Χρηματοδοτικών Συναλλαγών).
The Schedule is intended to provide certain details of the controlled financing transactions included in the Local File and to support the documentation of the pricing of controlled financing transactions. The Schedule must be submitted when the controlled financing transactions cumulatively exceed the threshold prescribed in Article 33(9) of the Income Tax Law (as of 2026, the threshold applicable is €10,000,000).
Transactions covered: The Schedule must include the following controlled financing transactions:
Financing provided:
- Loans receivable;
- Trade receivables of a financing nature; and
- Other receivable balances of a financing nature.
Financing received:
- Loans payable;
- Trade payables of a financing nature; and
- Other payable balances of a financing nature.
Completion and submission requirements
The Schedule must be completed using a standardised Excel file prepared by the Tax Department, available on the Tax Department’s website. Use of this template is mandatory, and the Schedule must be submitted electronically through the Tax For All (TFA) system, together with the Summary Information Table of Controlled Transactions.
Quality assurance check
As the information included in the Schedule forms part of the Local File, it will also be subject to a quality assurance check before submission, in line with the requirements applicable to the Local File under current legislation. The check must be carried out by a person holding a practising certificate from the Institute of Certified Public Accountants of Cyprus (ICPAC).
Taxpayers should review their financing arrangements and prepare for the new reporting obligation applicable from tax year 2026.
