It is kindly reminded that all the Cyprus registered companies are subject to a €350 Annual Company Levy. The last date of the payment of the Annual Company Levy for 2021 is the 30th of June 2021.
Any company which is late on payment is subject to a 10% penalty if the payment takes place within two months from the deadline, i.e., 31st of August 2021, while a company that is late on payment of the Annual Company Levy and the payment takes place within a period of five months is subject to a penalty of 30%.
It is highlighted that the payment of the Annual Company Levy can be done through JCC Portal https://www.jccsmart.com/
Special Contribution for Defence and General Healthcare Contributions for rental income
It is reminded that Cyprus tax resident individuals who earn rental income for which obligation for withholding Special Contribution for Defence (SDC) and General Healthcare Contribution (GHS) does not exist, are subject to SDC and GHS twice a year, i.e. on 30 June and on 31 December each year.
Therefore, all Cyprus tax resident individual landlords need to pay SDC and GHS on their rental income earned in 2021, by the dates specified.
Author: Melina Menelaou, RSM Cyprus