Feb 26, 2024

Abolished: annual company levy in Cyprus

Abolished: annual company levy in Cyprus

President of the Republic of Cyprus Nikos Christodoulidis announced on Wednesday 21st February 2024 the decision made by the Council of Ministers to abolish the annual company levy of €350 payable by all companies registered in Cyprus.

The company levy fee was imposed in 2011 as a part of measures introduced to support Cypriot economy, generating over €40M in annual revenue.

The abolition of the annual company levy is applicable from 2024 and onwards.

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