Cyprus: Audit

If you have recently taken responsibility for a Cyprus subsidiary — or if your group has expanded into Cyprus...

On September 26, 2025 the Head of the Revenue Service issued Order No 20688 introducing a new instruction for the cancellation of 50% of fines imposed as a result of tax audits...

If however the structure is not simple, and for instance a group will apply for the licensing instead of a stand alone Cyprus Company (common practise), the complexities of the group will most likely increase.