ANNUAL TAX RETURNS FOR CYPRIOT COMPANIES

REGISTRATION OF ANNUAL RETURNS

(ΗΕ32forms with Financial Statements)

Cyprus companies have a responsibility to file to the Registrar of Companies an Annual Return (HE32), accompanied by the audited financial statements of the previous year.

Any delay in submitting the Annual Return will lead to the imposition of penalties and any penalties arising from late submission of Company Annual Returns will have to be paid to the Registrar of Companies at the time of submission.

Annual Returns for all years up to 2018

Annual Returns for all years up to 2018 inclusive should be submitted to the Registrar of Companies by 18 December 2019 in order to avoid the new penalties.

Annual Returns for the year 2019 and onwards

From 18 December 2019, Annual Returns for 2019 (with the Financial Statements for the year 2018) and future years must be submitted to the Registrar of Companies within 28 days from the date of their preparation in order to avoid the new penalties.

Penalties

As from 18 December 2019, the late filing of Annual Returns will be subject to a late filing fee and the amount of the charge will be: fifty euro (€ 50) once, and one euro (€ 1) for each day of continuation of the infringement during the first six (6) months, and two euro (€ 2) for each day of continuing the infringement, up to a maximum of five hundred euros (€ 500).

Annual Returns can only be submitted to the Registrar of Companies if they are accompanied by the audited financial statements of the previous year.

It is crucial that you ensure the Company’s records are up to date.

Failure of the filing of Annual Returns and Financial Statements will result in the struck-off of the companies from the Registrar of Companies and consequently its dissolution.