News

On 29 February 2024, the House of Representatives approved the Cyprus Government Bill to abolish the Annual Levy of EUR350, which was payable to the Registrar of Companies and Intellectual Property by all registered entities and pledged to refund the money to the entities that have already paid the Annual Levy for 2024.

Companies that have not yet paid the Annual Levy for any year from 2011 to 2023, will have to proceed with its payment, including applicable penalties:

• 10% on the initial amount due (€35) if not paid within 2 months from the due date of 30 June of each applicable year;
• 30% on the initial amount due (€105) if not paid within 3 months from the imposition of the first penalty of each applicable year, thus raising the total amount payable to four hundred and ninety Euro (€490).