Cyprus Tax Department, on November 22nd of 2021 informed the public that there will be an extension of the imposition of administrative fines for overdue submission of information with regards to the DAC6 Directive. Based on the announcement of the Tax Department the submission of disclosing information has been extended to 31st January of 2022.
We inform you that on December 1st, 2021, the British Virgin Islands Government will impose a late payment surcharge of 10% on the 2021 annual license fee of those first semester BVI legal entities (i.e. those incorporated between July and December) that fail to pay the annual license fee prior to the mentioned date.
According to the 1st Directive (ΚΔΠ 112/2021) for the operation of the Beneficial Owners Registry by the Registrar of Companies of Cyprus, all companies or other legal entities (Cooperatives) that were established before March 12, 2021 and each of their officials have the obligation to submit to the Registrar of Companies the information required for the Beneficial Owner no later than 12.3.2022.