If you run a Cyprus company, you must prepare audited accounts every year and file on time with both the Registrar of Companies and the Tax Department. This guide explains, in plain language, when your annual return is due, what goes with it, how corporate tax deadlines work, and what penalties apply in 2025.
In short, prepare the audit first, then file the HE32 with the audited accounts, and finally submit the company tax return.
1) Hold the AGM.
By law, the first AGM can be held within 18 months of incorporation; afterwards, you must hold one every year and not more than 15 months after the previous AGM.
2) Draft the HE32.
The return is drafted up to the company’s “annual return date” and then filed within 28 days from its drafting date. In practice, many firms aim to draft within 14 days after the AGM and then file within the next 28 days—i.e., ≈42 days from the AGM.
3) Attach the audited financial statements.
The audited accounts for the previous financial year are filed together with the HE32.
4) Use the official calculators.
To avoid mistakes, you can check both the Annual Return Date Calculator and the Late-filing Penalty Calculator on the Registrar’s site.
Cyprus requires IFRS. In other words, all companies prepare financial statements in accordance with IFRS as adopted in the EU, and all must be audited under ISAs by a Cyprus-registered auditor.
Tip: If you have subsidiaries, you may also need consolidated financial statements; there are limited exemptions for small/medium groups.
As a rule, the company income-tax return for a given calendar year is due by 31 March of the second year after that year.
Because the return uses figures from your audited accounts, you should finish the audit well before this date.
Annual Return (HE32) late fee (from 1/6/2021; updated by Law 18(I)/2024):
Therefore, file on time. The Registrar’s penalty calculator shows the exact amount for your dates.
Do micro or dormant companies skip the audit?
No. Cyprus requires all companies to have audited financial statements. If dormant, you still prepare dormant accounts. Mondaq+1
Can I change my financial year-end?
Yes, but keep the AGM and filing rules consistent, and update your planner accordingly. The IR4 deadline will track the new year-end’s calendar year.
Where do I file?
To meet the Cyprus accounts filing deadlines, finish your audit early, align the AGM → HE32 (28-day) window, and lock the IR4 date (31 March of the second following year). Meanwhile, use the Registrar’s calculators to stay on track and avoid automatic late fees.
For printable calendars, step-by-step checklists, and accountant shortlists, visit Soneverse and explore our accounting guide.
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