Abolition of annual levy for Cyprus companies
The House of Representatives of Cyprus decided yesterday to abolish the 350 Euros annual levy for Cypriot companies.
It should be noted that companies that have already paid the levy for the year 2024 will be refunded.
By lifting the annual levy, Cyprus aims to create a more favorable climate for entrepreneurship and investment. The abolition of the annual levy demonstrates an approach by the government to reduce business costs, thus encouraging both local and international businesses to establish and operate in Cyprus.
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