Pursuant to sections 104 and 105 of the Municipalities Law 111/1985, and a City Council’s decision dated 26 September 2019, the Limassol Municipality announced its decision to impose annual trade license fees on legal entities having their registered office address within the geographic boundaries of the Municipality as follows:

  • For legal entities working independently, an annual fee of € 150.00
  • For legal entities in a group of companies, an annual fee of € 85.00
  • For inactive legal entities (dormant companies), an annual fee of € 50.00

The annual trade license fees for the year 2020 are payable by 31 December 2020, and if payment is not received by the due date, a 10% penalty will be applied. If the trade license fees remain unpaid, the Company faces the risk of legal actions before the court.

If you would like to engage us to arrange the municipality tax payment, our handling fees are the following:

  • For invoice of € 150.00: € 25.00 + VAT per legal entity, totalling to € 179.75
  • For invoice of € 85.00: € 25.00 + VAT per legal entity, totalling to € 114.75
  • For invoice of € 50.00: € 25.00 + VAT per legal entity, totalling to €   79.75

The details of our client’s account:

BENEFICIARY A/C:         240-01-482002-09 (EUR)
IBAN:                                CY04 0050 0240 0002 4001 4820 0209
SWIFT:                              HEBACY2N

                                           ARCH. MAKARIOU & IOANNI POLEMI 131
                                           3508 – LIMASSOL

When you initiate the payment, kindly refer the name of the Company e.g. MUNICIPALITY TAX FOR 2020, ABC LTD.

Early settlement will allow us to proceed with the payment of annual trade licence fees, in order to comply with the requirements of the above-mentioned legal provisions without any penalties imposed.

Kindly note that our Firm will not be liable for any consequences of non-compliance with the above regulation.

For more information or clarifications, you can contact our Operation Compliance Officer Mrs. Vicky Koula at +357 25 50 80 80 as well as at vicky.koula@aretilaw.com

CategoryNews, Newsletters