According to Companies Law (Amendments) (No.3) 2012 and 2013 voted by the Parliament, amendments were enforced in relation to the fixed annual levy of Euro350 for companies. With the amendments the annual levy of Euro350 has been imposed to all Cyprus companies.
More specifically, the amendments made are as follows:
- All Cyprus companies, either dormant or not, (or group of companies) which do not hold any assets, or which hold assets which are situated in occupied areas of Cyprus should pay the amount of Euro350 as from the year of its registration. Companies, which are under the procedure of liquidation or winding up by 29th March 2013, are excluded.
- In the case of groups of companies, the total amount of levy to be paid by all companies will not exist the amount of Euro20,000. Such amount shall be spread equally between the companies of the group.
- The deadline for payment of the duty for the year 2012 (for companies exempted under the original provisions) is extended to 29th March 2013
- For the year 2013 and any subsequent year the levy must be paid not later that 30th June of each relevant year.