The Council of Ministers has announced on February 21, 2024, their decision to abolish the Annual Levy of Euro 350 previously imposed on companies registered in Cyprus.
This measure is intended to support businesses and make Cyprus a more appealing location for conducting business activities.
With immediate effect, this decision aims to ease the financial burden on businesses that have been required to pay the annual levy since its introduction in 2011 as part of fiscal consolidation measures.
Additional information on the implementation of this decision will be shared as it becomes available.
