We would like to inform you that pursuant to the International Business Companies (Amendment) Act 2021 enacted in August 2021 and the International Business Companies Act and Other Related Laws (Amendment) Act 2021 enacted in December 2021 (together the Amendments), various legislative amendments to the International Business Companies Act 2016 (the Act) came into force on 1 January 2022 (unless otherwise indicated below).
On 21 December 2021, two amending laws (available in Greek only) were published in Cyprus' official gazette that aim to strengthen the country's tax framework for the prevention of tax abuse. The new provisions amend the Special Defence contribution and the Income Tax Law and are effective as from 31 December 2022.
The Department of Registrar of Companies announced that the Minister of Energy, Commerce and Industry, issued a decree on 21 of December 2021 according το Section 391(5)(b) Cap.113, by which, the deadline for payment of the Annual Levy by registered companies for the year 2021 is extended to March 31, 2022 with no additional charge.
