Cyprus Late Filing Penalty Calculator

Every amount below is statutory. The scale of monetary charges in Article 50A of the Assessment and Collection of Taxes Law N.4/1978 was rewritten by Law N.243(I)/2025, published in the Gazette on 31 December 2025 and in force from 1 January 2026. Flat charges of 100 and 200 euro circulating from before that date no longer apply.

Annual return, Registrar of Companies

50 euro on the first day of non-compliance and 1 euro for every day it continues, capped at 150 euro, with a further 20 euro fee. Applies to annual returns with a reference date in 2021 or later under the Companies (Amendment) Law N.18(I)/2024. Partnership annual returns on form Σ5 carry the same structure. Failure to file is separately an offence for which the company and its officers are liable to a fine of up to 42 euro, and a sustained failure ends in involuntary strike-off and dissolution.

Late filing, Tax Department

Article 50A(a), for a deadline set expressly by the Law:

• 150 euro for an individual
• 250 euro for a company
• 500 euro for a company whose turnover or assets exceed one million euro

Article 50A(b) to (d), where the Commissioner has served a notice allowing not less than sixty days:

• 300 euro for an individual
• 500 euro for a company
• 1,000 euro above the one million euro threshold

Late payment

Article 50A(e) charges 5 percent of the tax due, and a further 5 percent if two months pass from the last day for payment and the failure continues. It is charged separately from any late filing charge, so a return that is both late and unpaid attracts both.

Interest, and why it is not a single rate

Article 39 previously set 9 percent a year. Law N.243(I)/2025 replaced that figure with the rate determined under the Unified Public Default Interest Rate Law, which is fixed by decree annually. Interest accrues by completed month, and arrears spanning several years apply the rate in force for each period rather than the current one:

• 3.50 percent from 1 January 2026
• 5.50 percent for 2025
• 5.00 percent for 2024
• 2.25 percent for 2023
• 1.75 percent from 2020 to 2022

Article 39(2) also changes when interest starts running, differently for tax years 2020 to 2025 and for 2026 onwards, keyed to whether the filing deadline is 31 July or 31 January. This calculator runs interest from the date entered, so that date has to be the date the tax actually fell due rather than the year end.

VAT and VIES

• 100 euro for each late VAT return, plus additional tax of 10 percent of the VAT owed
• 50 euro for each late VIES recapitulative statement

VAT runs on its own scale and conflating it with the income tax charges is the common error. The charge on the amount owed is 10 percent under VAT, where income tax charges 5 percent and then a further 5 percent on a different timetable.

Two reliefs

Both were introduced with effect from 1 January 2026 and both turn on extensions the Commissioner announces publicly rather than on the statutory deadline. Where a return misses the deadline in Article 5 but is filed within an announced extension, no charge is imposed. And where the tax shown on the return is paid at the time of submission, and that submission falls within an announced extension, neither the charge nor the interest applies. Filing and paying together inside an announced extension is therefore materially cheaper than filing inside it and paying afterwards.

What this does not do

• It does not calculate the additional tax on an underestimated provisional tax liability, which turns on the 75 percent test and is not part of Article 50A.
• It does not cover late VAT registration, employer returns or social insurance.
• It does not model the administrative fine of up to 20,000 euro the Commissioner may impose under Article 50B, which is discretionary and judged by the gravity of the breach.
• It assumes one late annual return and one late tax return. A company several years in arrears is charged per year, so multiply accordingly.

The Cyprus company compliance calendarsets out the filings themselves, the deadlines and the authorities they belong to.