ABOLISHMENT OF ANNUAL LEVY

As an additional measure to facilitate corporate entities in Cyprus, the Council of Ministers has decided to abolish the annual levy of €350.

The annual levy was first imposed during 2011 as a fiscal consolidation measure and was payable to the Registrar of Companies by all companies registered in the Republic of Cyprus.

The abolishment will have effect from this year and it is seeking to lighten the obligations of the entities.

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