AMENDMENTS TO TAX LEGISLATION AND INTRODUCTION OF SPECIAL LEVY ON CYPRUS COMPANIES

On the 26th August, 2011 the House of Parliament in Cyprus voted a number of new amendments to the tax legislation, including the introduction of a fixed levy of Euro 350 per annum which will now be imposed on all Cyprus companies. For groups of companies this levy will be capped at €20.000 (Euro Twenty Thousand).

The levy will not apply to:

  1. Dormant Companies (Companies which do not own any assets or do not have any revenue)
  2. Companies that own property in territories not controlled by Cyprus Government. (this relates only to property in the occupied territories of Cyprus)
  3. For the year 2011, this levy will be payable by the 31st December, 2011. Thereafter for each subsequent year the payment date will be the 30th of June of that year. No levy will be imposed during the year of registration of the company.

< Previous Page | Next Page >

Search the site