M. Target Group kindly reminds that the annual professional tax for companies with the registered office in Limassol is due by 28 February 2022.

The said tax is payable by legal entities having their registered office in Limassol, and/or whose business is managed by law firms or accounting/audit firms or offices providing secretarial or administrative services, as follows:

• For legal entities carrying out business independently, the annual fee is set at €171;
• For legal entities that are part of a group of companies, the annual fee is set at €97 per legal entity;
• For shipping companies, the annual fee amounts to €150;
• For companies falling under the definition of ‘dormant’ (as per Circular dd 31.01.2014 by the Inland Revenue Dept.), there is no fee.

As always, M. Target Group specialists remain at your disposal should you require any further information, clarification or professional assistance with the timely payment of the professional tax.