Reduction to the administrative penalties for late submission of Annual Returns (HE32)

08 Jul Reduction to the administrative penalties for late submission of Annual Returns (HE32)

In accordance with new amendments to the Companies Law, Cyprus Companies that fail to submit the Annual Return on time for the years 2021 to 2024 will have a reduction of the maximum penalty from €500 to €150.

In cases where companies have already paid a penalty in excess of €150 within the years 2021 and 2022 then they are entitled to submit a claim for a refund.