• About Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ
  • Contact Us
Login | My Posts
Accountants in Cyprus
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Cyprus VAT
    • Cyprus Accountants
    • Cyprus Economy
  • Find Accountants
  • Contact Us
No Result
View All Result
Accountants in Cyprus
No Result
View All Result
Home Publications Articles

Obligations of a Cyprus Limited Company

May 27, 2015
in Articles
Reading Time: 2 mins read
Obligations of a Cyprus Limited Company

This article goes through the Obligations of a Cyprus Limited Company

Accounts and Audited Financial Statements
. Maintain accounting records / bookkeeping procedure based on Cyprus Companies and Tax Law.

. Prepare annual financial statements audited by an independent auditor. This is required by the Tax Laws even if a Company is of small size and it is exempt from audit by the Companies Law.

Group Financial Statements

  • Prepare annual consolidated financial statements audited by an independent auditorifthe Group is notof “Smallsize”. This is in harmonywith E.U. Directives. ‘ A group of “Small size” is determined by certain characteristicsCorporation Tax -12.5% on the Companv’s Taxable Income
  • Acquisition of a Tax ldentification Code (T.l.C.).
  • Submission of annual tax return (lR4) based on the audited financial statements for eacn year.
  • Annual declaration that the Company’s shareholders are non-resident and they are not subject to deemed distribution tax on dividends
  • Submission of tax exemption certificate in the case of payment of dividends
  • Submission of annual analytical declaration of employees’ deductions

Payment of taxes

  • .Declaration and payment of provisional tax in 2instalments for the tax year (August & December).
  •  Payment of final tax of the year by 1 August of the next year without any penalties.For more details go to Tax calendar

VAT

  • VAT registration required by law if the Company:
    – makes taxable supplies or- provides zero-rated services to other E,U, businesses (also need toregister for VIES)

    – conducts business in the E.U, and receives services from other E,U, or

    – non-E,U, businesses

  • Voluntary registration is also allowed,

Social Insufance and Pavee deductions

  • Registration with the Social insurance department as an employer if applicable
  • MonthlY payment of Social Contributions for Directors and other employees-lf thecompany’ is registered
  • Monthly payment of PAYE for Directors and other employees-if the company is registered,

Reqistrar of Gompanies

  • Submission of the company annual return for the year together with the annual.
  • audited accounts for the previous year (or the consolidated accounts if applicable).
  • Obligation to pay annual levy tax for the amount of Euro 350 (For both active and non active companies).

By: George Michael Managing Director at TOP PRO AUDIT & TAX LTD

 

ShareTweetShare
Previous Post

Registration of Cyprus Ships

Next Post

Cyprus part of EU growth plan in the Mediterranean

Next Post

Cyprus part of EU growth plan in the Mediterranean

Newsletter

Latest News

Interview: The future of the Cyprus accounting sector
Videos

The future of the Cyprus accounting sector

March 30, 2023

Interview: George P. Christou, Managing Director of Euroaudit, talks about the future of the Cyprus accounting sector, the challenges it...

Read more
Financial Services Sector: Future of Finance

Financial Services Sector: Embracing the Future of Finance

March 24, 2023
Financial Services

More financial services included in accountants portfolio

March 23, 2023

Accountants in Cyprus is an accounting portal that consists of information in the field of finance and a network of Cyprus accounting firms and other financial service providers .

USEFUL LINKS

  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos
Menu
  • Accountants in Nicosia
  • Accountants in Limassol
  • Accountants in Larnaca
  • Accountants in Famagusta
  • Accountants in Paphos

USEFUL LINKS

  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms
Menu
  • Cyprus Tax Consultants
  • Tax Planning Cyprus
  • Tax Benefits Cyprus
  • Double Taxation Treaties
  • Cyprus Accounting Firms

AFFILIATED SITES

logo-lawyers-in-cyprus
lawyers-malta
2022 © Accountants in Cyprus. All Rights Reserved. Developed by Wizzweb
  • About
  • Cyprus Accounting Services
  • Auditors in Cyprus
  • Contact Us
No Result
View All Result
  • Publications
  • About Cyprus
    • Cyprus History
    • Cyprus Company Registration
    • Cyprus Tax
    • Accountants Cyprus
    • Cyprus Economy
  • Find Accountants
  • Contact Us
  • Our Services
  • Subscribe
  • Advertise
  • FAQ

© 2023 Accountant in Cyprus

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.