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New penalties for late submission of Annual Return HE32

Newsletter 37

 

6 November 2019
 

REGISTRAR OF COMPANIES

New penalties for late submission of Company's Annual Return (HE32)

All Cyprus Companies have an obligation to file to the Registrar of Companies an Annual Return (HE32), accompanied by the audited Financial Statements of the previous year (e.g. the Annual Return (HE32) for the year 2019 will have to be filed with the audited Financial Statements of the year 2018).

The Registrar of Companies has introduced new penalties for the late submission of the Company's Annual Return (HE32), effective from the 18th of December 2019. For every delayed submission of HE32 the following penalties will be imposed:

Any penalties arising from late submission of Company's Annual Return will have to be paid to the Registrar of Companies at the time of submission.

Please note that the Annual Returns for the years 2018 and earlier will not be subject to the above penalties but note that the Annual Return for the year 2019 can not be filed if the previous years Annual Returns were not filed.

HE32 for all years up to 2018 inclusive

Annual Returns for all years up to 2018 inclusive should be submitted to the Registrar of Companies in order to be up-to-date and to avoid the new penalties.

HE32 for the year 2019 and onwards

Annual Returns for the year 2019 and onwards must be submitted to the Registrar of Companies within 28 days from the date of their preparation in order to avoid the new penalties.

For example, a 2019 Annual Return (HE32) that has been prepared on 31 December 2019 must be filed to the Registrar of Companies by 28 January 2020, accompanied with the Financial Statements of the year 2018.

 

We remain available for any clarification or any assistance should be needed.

 

 

 

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