Αll Cyprus companies regardless if they are dormant or not, have an obligation to prepare and file audited financial statements to both the Registrar of Companies and the Tax Authorities. All companies to be up to date and in good standing should prepare and file Financial statements until 2019. Companies that were incorporated in the second half of 2019 will prepare financial statements together with 2020.
In continuation of the announcement published on April, we would like to inform you that from 1st March 2020 the contributions for the NHS will be increased from 1,70% to 2,65% for employees and pensioners , from 1,85% to 2,9% for employers and to 4% self-employed. The contribution will be deducted from the entire earnings of the individuals up to a maximum of €180.000.
In continuation of the Cyprus registrar’s announcement from November 2019 regarding the new penalty system for the annual returns (HE32) of 2019, we would like to inform you that the registrar has decided to extend the period of filing the annual returns without penalties to 18/04/2020.