On 16 December 2020, the Cyprus Council of Ministers, on the basis of a relevant proposal of the "Advisory Authority for Combating Money Laundering and Terrorist Financing", decided to:
On 3 December 2020 the Cyprus Parliament voted for the extension of relevant tax provisions of the Cyprus tax legislation with respect to the debt restructurings.
With reference to the above subject, we would like to remind you that all companies incorporated in Cyprus, irrespective of whether there are active or not or have assets or not, are subject to a €350 levy per annum which is normally payable by 30 June of each year.
Every Cyprus tax resident company must declare, at least, the 70% of its accounting profits for the year 2018 by 31 December 2020 and pay the Special Contribution for Defence of 17% and National Health Contribution of 2,65% by 31st January 2021.