All Cyprus companies regardless if they are dormant or not, have an obligation to prepare and file audited Financial Statements to both the Registrar of Companies and the Tax Authorities. All companies to be up to date and in good standing should prepare and file Financial Statements until 2022.
Social Insurance Services of Cyprus announced that the annual maximum insurable amount for 2023 is increased to €60.060 from €58.080, and also for monthly paid employees to €5.005 per month from €4.840 and for weekly paid employees from €1.155 per week to €1.117.
The deadline for payment of the second installment of Temporary Tax for the year 2022, is 31 January 2023.
All companies have the right to revise their estimated taxable income at any time before 31 December 2022. If the estimated taxable income is revised upwards, there will be interest payable at the rate of 1,75% on the difference between the revised amount payable and the amount initially declared from the due date of payment of the 1st installment.
