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 NAME: ARETI CHARIDEMOU & ASSOCIATES
BENEFICIARY A/C: 240-01-482002-09 (EUR)
IBAN: CY04 0050 0240 0002 4001 4820 0209
BENEFIACIRY BANK: HELLENIC BANK PUBLIC CO LTD
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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.