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Annual Statutory Obligations for Cyprus Entities

Cyprus Companies, Partnerships, Self Employed &
Cyprus Branches of Foreign Companies

Every

Month

Book-keeping records are required to be maintained on monthly basis.
If Entity is an Employer
Payment of tax deducted from employees of the previous month. Payment of social insurance and related funds withheld from employees of previous month.
If Entity is registered to VIES
Electronic submission of monthly EC Sales List-VIES (VAT Information Exchange System) for EU sales of the previous month. The deadline for submission is every 15thof each month Intrastat (Intracommunity Statistics) Return monthly for imports and exports within EU, if any. The deadline for submission is the 10th day of the month following the reporting month.

 

Quarterly

If Entity is registered to VAT
Electronic submission of VAT Return and payment of the VAT amount, if any. The deadline for submission is the 10th day following the end of each tax period.

 

Semester

If Entity is receiving Rental Income. Received dividends & interest
Payment of special contribution for defence for the first six months of 2019 on rents if such is not withheld at source by tenant and on dividends or interest from sources outside Cyprus

 

Annually

Audited Financial Statements for companies, Partnerships and Branches: Proper accounting records must be maintained and audited annual financial statements have to be prepared in accordance with International Financial Reporting Standards (IFRS) by an authorised local auditor. Shareholders Meetings: Annual general meeting must be held once every year, preferably in Cyprus.
Annual Tax Returns for Companies and Self Employed:
Electronic submission of corporation tax return of the company (IR4) for the previous year.
Electronic submission of tax return (IR1) of self employed (with or without audited financial statements).
Annual Return: The Annual Return need to be completed by the Company Secretary, containing company structure information like capital, directors, shareholders, secretary, registered office address; to be submitted to the Registrar of Companies accompanied by financial statements in Greek language and stamp duty.
Annual Fee: €350 payable to the Registrar of Companies for maintaining the company active.