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Annual Return for Cypriot companies. Reduction of administrative fine as from 24/06/2022.
By an amending Law, (Law 87(Ι)/2022 ) , the Cyprus Parliament voted on 24/06/2022 a cap on the administrative fine that may be imposed for late filing of the annual return.
The cap is set to 150 euro whereas previously it was 500 euro.
The amendment of the Law is valid for the Annual Returns with drafting date within the years 2021 and 2022 until December 2024.
In the event that a company has already paid the fine exceeding the amount of 150 euro , then the Law states that it may claim the difference.
For more on the annual return click below: