The Cyprus Registrar announced the extension of the Levy Tax of 2021 payment deadline. The amount of 350 euros can be paid until the 31st day of December 2021 istead of the 31st of July. It is noted that, if a company fails to timely pay the annual fee it is subject to a late charge.
One of the main changes in the VAT legislation that Cyprus is expected to implement from July 1, 2021 is the imposition of penalties burden on persons who fail to pay VAT through the reverse charge mechanism. The penalty fee will range from €200 for each quarter and with a maximum of €4.000
On the 4th of June 2021 the Cyprus Tax Department announced that there will be no imposition of administrative fines to the overdue submission of DAC 6 information as the deadline for the filing of information on reportable cross border arrangements has been further extended to the 30th of September 2021, the above concerns the following cases,