Cyprus Country-by-Country (‘CbC’) reporting

As per Country-by-Country (‘CbC’) Cyprus reporting requirements, a CbC report must be prepared and submitted to the Tax Department by Multinational (‘MIME’) Groups, if the annual consolidated group revenue exceeds €750 million during the fiscal year immediately preceding the reporting fiscal year. The CbC report must be submitted either by:

  • The Ultimate Parent Entity (‘UPE’) of an MNE Group which is tax resident in Cyprus; or
  • The Surrogate Parent Entity (‘SPE’) of an MNE Group which is tax resident in Cyprus and has been appointed by the MNE Group as the reporting entity for CbC reporting purposes.

The deadline to file the CbC report with the Tax Department is 12 months from the end of the relevant accounting period (e.g., for groups with year-end 31 December 2021, the reporting deadline is by 31 December 2022).

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