You are here: Home CYPRUS TAX Cyprus Taxation 2019 ANNUAL WEAR & TEAR ALLOWANCES

ANNUAL WEAR & TEAR ALLOWANCES

Buildings	Rate %
Industrial Buildings	4
Agricultural Buildings	4
Hotel Buildings	4
Industrial and Hotel buildings acquired during 2012-2016	7
Commercial buildings and flats	3
Metallic greenhouse structures	10
Wooden greenhouse structures	33 1/3

Vehicles	Rate %
Commercial motor vehicles (other than saloon cars) and trucks, motorbikes, busses, mini buses and dumpers.	20

Boats	Rate %
New cargo boats /ships	8
New passenger boats /ships	6
Streamers, tugs and fishing boats	6
Sailing vessels	4 1/2
Boat launchers	12.5
Second hand cargo / passenger vessels and capital additions	Remaining Useful life
Used ships	In accordance with special agreement
Motor yachts	6%

Plant and machinery	Rate %
Plant and machinery	10
Plant and machinery acquired during 2012-2016	20% unless capital allowances rate is higher
Furniture and fittings	10
Agricultural and farming businesses machinery and tools	15
Computer hardware and operating software	20
Photovoltaics panels	10
Application software Up to €1.709 Above €1.709	100 33 1/3
Lifts, excavators, towing machine, cranes, bulldozers	25

Tools	Rate %
Tools in general	33 1/3

Other	Rate %
Armored cars (used for security services)	20
Wind generators ( cost less subsidy received)	10
Photovoltaic systems ( cost less subsidy received)	10
New airplains	8
New helicopters	8
Specialised machinery for rail roading (e.g. Locomotive engines, Ballast Wagon, container wagon and container sleeper wagon)	20

Annual Government Fee to Registrar of Companies for Cyprus Registered Companies

The Annual Government fee is €350, payable to the Registrar of Companies by 30 June.

In the case of group companies the total amount payable is capped at €20.000.

Late payment of the levy will give rise to the following penalties: in case of up to a 2 month delay - a 10% penalty; in case of a delay between 2 and 5 months - a 40% penalty.

Non-payment of the levy may result in deregistration (strike-off) of a company by the Cyprus Registrar of Companies (which will not allow the company to submit documents or request certificates from the Registrar of Companies). If a company is re-instated within a two year period from its strike-off a fixed penalty of €500 (in addition to the outstanding amount of the levy) is imposed. The fixed fee will be increased to €750 where a company is re-instated after the two year period.

More in this category: « CORPORATION TAX SHIPPING COMPANIES »

TAXATION BY YEAR

formation co

Cyprus Company formation for trade, service, e-commerce, IPs.

learn the criteria

Cyprus, a Member State of the European Union, has been an important centre for trade and commerce since antiquity.
The small but dynamic country has a long established reputation as a “Centre of Excellence” for international business activities Read more...

trust form

Trust Formation for effective wealth management and succession planning.

learn the criteria

Forming a company in Cyprus can take the form of a private or public limited liability companies by shares and companies limited by
guarantee which are all incorporated pursuant to the Cyprus
Companies Law. Read more...

live work

Live and work in cyprus for non-european citizens

learn the criteria

Get in touch with P. KALOPETRIDES & CO. for a tailor made advice on the process for acquiring permanent residency
We provide guidance on the documents required and assist with preparation (employment agreement and the like. Read more...

Call us and schedule your meeting today! CONTACT US

Click here for 2GIS Directions

Click here for Google Maps Directions