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The Cyprus Registrar of Companies in order to bring up to date the Cyprus Register of Companies commenced the procedure for deregistering Cyprus companies (under section 327 of the Companies Law) by sending letters to Cyprus companies that did not file their annual returns due together with the corresponding financial statements.
Moreover, the Cyprus Registrar of Companies commenced notifying Cyprus companies that failure to file annual returns (as required by Articles 118-121 of the Companies Law), within one month from the date of notice, the Registrar of Companies will proceed with the process of deletion.
Cyprus Registrar of Companies has also commenced notifying the Cyprus Tax Department its intention to proceed with the process of deletion. In this respect, Cyprus Tax Department has also commenced sending letters to Cyprus Companies warning of possible tax implication that may arise from imminent delisting.
How we can help
We can help you fulfill the obligations of your company with the Cyprus Registrar of Companies and Cyprus Tax Department. For more information please contact our offices:
PKF / ATCO Limited is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms. This publication is for information purposes only and should not be considered as professional advice.
The deadline for payment of Cyprus Immovable Property Tax (IPT) for the year 2014 is extended until 31 December, and early payment discount of 15 percent is also extended by one month. The last date for payment of Cyprus Immovable Property Tax (IPT) for the year 2014 will be 31 December 2014, instead of the end of November and taxpayers will receive a 15 percent discount if they settle their immovable property taxes until 30 November, instead of the end of October.
If the payment is made after 31 December 2014, there will be an additional charge of 10% of the tax due, plus interest and any administrative fines provided for in the legislation.
This year Immovable Property Tax will be based on the values of the 1980s as last year and on the current applicable Cyprus Immovable Property Tax rates.
It is expected that the new system of property valuation will be implemented in 2015, where property values will be based on market values. It is expected that Cyprus Immovable Property Tax rates will also change.
For more information and on information on how to pay your property tax, please refer to our previous article Cyprus Immovable Property tax 2014 guidance.
How we can help
We can help you to complete the relevant Immovable Property Tax forms and pay the tax obligations of your Cyprus Immovable Property.
Please contact our offices:
PKF / ATCO Limited is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms. This publication is for information purposes only and should not be considered as professional advice.
