Further to the latest measures taken by the Government to support companies/businesses affected by the restrictive measures imposed to limit the spread of Coronavirus in Cyprus, the Department of Registrar of Companies of the Republic of Cyprus and Tax department announced the following:
PAYMENT OF THE ANNUAL RENEWAL FEE OF € 350:
The option to pay the annual fee of €350 for 2020 is extended until 31st of December, 2020 without any additional charge of 10% or 30%.
IMPOSITION OF A FEE FOR LATE SUBMISSION TO THE REGISTRAR OF COMPANIES ANY CHANGE IN DIRECTORS, SECRETARY, REGISTER OFFICE, SHARE CAPITAL, ETC:
In co-operation with the House of Representatives, the implementation of the monetary charge for late submission of statutory forms to the Registrar of Companies will be postponed until the year 2021.
SUBMISSION OF THE 2020 ANNUAL RETURN (HE32) TO THE REGISTRAR OF COMPANIES WITH THE RELATED FINANCIAL STATEMENTS FOR THE YEAR 2019:
The Annual Report (HE32) dated 01/01/2020 to 31/12/2020 with the financial statements for the year 2019 may be submitted to the Department until 28/01/2021.
LATE SUBMISSION OF ANNUAL RETURNS (HE32) AND THE RELATED FINANCIAL STATEMENTS TO THE REGISTRAR OF COMPANIES:
The process of publication in the Official Gazette of the Republic 3-month notice before the delisting of companies not being in compliance with their statutory obligations is suspended until January 2021.
INCREASE OF CONTRIBUTIONS TO GENERAL HEALTHCARE SYSTEM:
The new contributions rates to General Healthcare system is as follows:
| GHS Contribution Rates | 1/3/2020 -31/3/2020 | 1/4/2020 -30/6/2020 | 1/7/2020 onwards |
|---|---|---|---|
| Employees | 2.65% | 1.70% | 2.65% |
| Employers | 2.90% | 1.85% | 2.90% |
| Self-employed/Sole practitioners | 4.00% | 2.55% | 4.00% |
| Pensioners | 2.65% | 1.70% | 2.65% |
| Individual holding an office or employment | 2.65% | 1.70% | 2.65% |
| The Republic of Cyprus or any natural or legal person responsible for the payment of emoluments to any person holding an office or employment | 2.90% | 1.85% | 2.90% |
| Income other than emoluments | 2.65% | 1.70% | 2.65% |
| Consolidated Fund of the Republic | 4.70% | 1.65% | 4.70% |
DEADLINE FOR SUBMISSION OF INCOME TAX RETURN FOR THE YEAR 2018
The new deadline for submission of income tax return for companies and self-individuals with audited financial statements for the year 2018 is extended until 1 June 2020.
TEMPORARY DEFERRAL OF PAYMENT OF VALUE ADDED TAX (VAT) FOR THE VAT PERIODS ENDED 28/02/2020, 31/03/2020 AND 30/04/2020.
Temporary deferral of the VAT payable amount for the above-mentioned periods can be settled until 10 November 2020 provided that the taxable person submits the relevant VAT return by the statutory due date.
