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Cyprus, New Tax Changes in the Tax Law with effect as from 01.01.2011

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  • Cyprus, New Tax Changes in the Tax Law with effect as from 01.01.2011

    As per these changes, all Cyprus companies registered as from 01/01/2011 must be registered with Income Tax Office within 60 days from Registration and all old companies must be registered by end of June 2011 the latest.

    If they fail, there will be penalties ranging from Eur 100 -200. In addition, there will similar penalties for not filing the Tax returns on time.

    In order to register with the Income Tax Office in Cyprus all companies must file tax returns first.

    For existing clients there will be no fee for the registration, however, preparation and submission of the financial report etc. is charged at the usual rate.

    Please do not hesitate to contact us for any questions.
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