Is the €350 annual company levy still payable in Cyprus?
No. The €350 annual company levy was abolished from 2024 onwards. Do not pay it for 2024 or later. Arrears for 2011 to 2023 remain due.
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Detailed Explanation
## The answer
The separate €350 annual company levy was abolished from 2024 onwards. Do not pay it for 2024 or later.
## Arrears
Levies for the years 2011 to 2023 remain collectable. If the company has unpaid levies for those years, they are still due.
## What still applies
The HE32 annual return is still required, with a €20 filing fee. Late filing costs €50 plus €1 a day, capped at €150.
## Checking your position
If an adviser or an old reminder asks for the levy for a recent year, ask why. Check the company's Registrar record for which years are outstanding.
## What Finn does
Finn corrects any mention of the levy with the abolition and the arrears caveat, and does not add it to your deadlines.
Source: https://www.companies.gov.cy/en/business-entities/2-company/5-lifecycle/1-running-a-company/5-guidance/filing-annual-returns-and-accounts/when-do-i-need-to-file-an-annual-return
Real-World Examples
Reminder for 2025
A company receives a reminder for the 2025 levy. It is not payable, because the levy was abolished from 2024.
Old arrears
A company has an unpaid levy from 2019. That arrear remains due.
New company
A company incorporated this year pays no levy and files its HE32 on time.
Common Mistakes to Avoid
- Paying the levy for 2024 or later
- Assuming arrears were cancelled
- Forgetting the HE32 still applies
- Ignoring old reminders about earlier years
Frequently Asked Questions
When was the levy abolished?
From 2024 onwards.
Do I owe 2011 to 2023?
Arrears for those years remain due.
Is the HE32 still required?
Yes, with a €20 fee.
What does a late HE32 cost?
€50 plus €1 a day, capped at €150.
Will Finn add the levy to my deadlines?
No.
Practical Tips
- Check which years, if any, are outstanding
- Do not pay levy notices for 2024 onwards without checking
- Keep the HE32 in the calendar
- Ask the Registrar to confirm arrears in writing
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