Cyprus Companies have an Annual levy to pay each year of Euro 350
The new tax was introduced in August 2011.
The first year it applies too is companies trading in 2010, who must pay the 350 levy by Dec 2011.
The second year 2011 applies to companies trading in that year and is payable June 2012.
The company does not pay the levy if it meets certain criteria and can sign a declaration to the effect it is a dormant company.
If you have a trade name or company that is dormant no levy is due.
The trade mark owner or company owner can licence the use of the trade mark by another company with only one levy payable by the Trading company.
If a company is not active and dormant before 12/1/2012 then no levy will be due for 2012, payable by June 2013
If the 2011 return remains outstanding, you can ensure your companies operate in the best way for you and you have the business structure.
ProACT offer a free review online, by phone or at our office. Contact us for a free review.
Sam Orgill
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