- April 21, 2024
- Posted by: admin
- Category: Accounting & Finance, News, Taxation
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Annual Statutory Obligations for Cyprus Entities 2024
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 (PAYE). | Payment of social insurance and related funds withheld from employees of previous month. | |
If Entity is registered in the Information Exchange System |
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Electronic submission of monthly sales statements (VIES). | ||
If Entity is receiving Rental Income |
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Payment of special defense contributions (SDC) withheld from rent paid last month. |
Quarterly |
If Entity is registered to VAT |
Electronic submission of VAT Return and payment of the VAT amount, if any. |
Annually |
Annual Financial Statements: for companies, partnerships and branches, 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:
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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. | Note: Surcharge and interest applies for late submissions of returns. |