Measures for relief of Cyprus companies during COVID –19 outbreak

Measures taken by the Registrar of Companies and the Tax Department in Cyprus with an aim to support companies affected by the Coronavirus spread

Within the framework of the measures taken by the Cyprus Government for the support of companies / businesses that are affected by the restrictive measures imposed as an attempt to combat the spread of Coronavirus the following have been announced:

Registrar of Companies

• The procedure of publishing the three month notice in the Government Gazette for the strike off of non-compliant companies is postponed until January 2021.
• The payment of the annual levy of €350 for the year 2020 may be made without the imposition of a penalty until the 31^st December 2020.
• The imposition of monetary penalties for late submissions of statutory documents (e.g. HE32) to the Registrar of Companies will be postponed until 2021.
• The Annual Return (HE32) with draw up date from 1^st January 2020 until 31^st December 2020 (i.e. for the year 2019) may be filed with the Registrar of Companies up until the 28^th January 2021 without the imposition of a penalty.

Tax Department

• The deadline for the submission of the Tax Returns for the year 2018, of companies and self employed persons with an obligation to prepare Accounts, is extended from 31^st March 2020 to the 1^st June 2020.

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