M. Target Group would like to remind you that the annual professional tax for legal entities with the registered office in Limassol, as imposed starting from the last year by Limassol Municipality is due by 30 December 2020:
- For legal entities that work independently, the annual fee of €150,00 shall be payable.
- For legal entities belonging to a group of companies, the annual fee of €85.00 per legal entity shall be payable.
- For dormant legal entities (companies that have been registered in Cyprus but are not carrying out any kind of business activity or receiving any form of income), the annual fee of €50,00 shall be payable.
Clients and companies should arrange settlement of this fee by 30/12/2020, while failure to comply will result in a penalty of 10% on the amount due.
M. Target Group can assist your company with the timely payment of the professional tax. Please feel free to contact us for any questions or clarifications.