Late submission of Annual Returns: Changes to applicable late filing fees

Following an amendment of the Companies Law, Cap. 113, effective as of 5 March 2024, the late filing fees applicable to annual returns with reference dates from 2021 and onwards are capped at EUR 150.

The late filing fees will be as follows:

• EUR 20 – late filing fee;
• EUR 50 charged upon the first day of delay and EUR 1 charged for every subsequent day of delay with a cap at EUR 150.

The total fee for late filing of annual returns with reference date up to 2021 remains EUR 20.

Any companies that paid late filing fees as per the previous regime, i.e. with a cap at EUR 500, will be entitled to a refund of the fees paid over and above EUR 150 in case these were paid after 5 March 2024.

Should you have any queries relating to annual return filings, please, do not hesitate to contact us at info@bakertilly.com.cy.