- Cyprus: the deadline for the introduction of a fine for late filing of a declaration on the HE32 form has been postponed
- Electronic Register of Beneficiaries in Cyprus: start date of collection of information of beneficiaries has been postponed
- Cyprus Authorities presented the new portal for online payments of the social insurance contributions
- Electronic Register of Beneficiaries in Cyprus
- EU list of non-cooperative jurisdictions for tax purposes was updated
- Corporate administrators can provide a new type of service
- Russia and Cyprus: Tax Agreement on New Terms
- Tax Residency in 90 Days
- The OECD has published the results of automatic exchange of information on financial accounts in 2020
- Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased
Professional Tax – new tax for Cyprus companies
January 24, 2020
At the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.
The amount of this tax per year will be EUR 150, for companies in the group – EUR 80, for dormant companies – EUR 50. According to general rule the municipality sends a notification for EUR 150, so the last two types of companies need to send proof in the form of financial statements to the municipality.
Also, according to general rule the tax must be paid by December 31 of the year in which the notification of its payment was received.
For now, the tax applies only to companies registered in the municipality of Limassol and Nicosia, but perhaps later it will be extended to all the cities of Cyprus.
May 18, 2020CRS and FATCA: extension of reporting deadlines
In 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.
December 03, 2019Happy Lawyer’s Day!
December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!
February 24, 2019Amendments to Cyprus Company Law
The Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law.
February 17, 2020OECD has published a consultation document on the review of Country-by-Country Reporting
OECD released public consultation document that is based upon the mandate set out in the BEPS Action 13 report, and focuses on issues concerning the use of CbC reports by tax administrations for the purposes of a high level transfer pricing risk assessment. The public consultation document [...]
April 15, 2020Professional consulting support of our specialists
Taking into account the current situation, our clients have a lot of different issues that require professional consulting support on-line.
July 10, 2020Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased
From March 1, 2020, contributions to the Fund of the state health insurance system of Cyprus GESY were supposed to grow as part of the second stage of the reform of this system.
December 18, 2019New penalties for late submission of HE32
As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019. Please note that the deadline for submission of Company Annual Return (HE32) was extended until A [...]
April 13, 2020Communication tools with Korpus Prava specialists
Currently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.