The deadline for multinational enterprise (MNE) groups to comply with the country-by-country (CbC) reporting and notification obligations in Cyprus is 31 December 2020 for the fiscal year 2019. CbC reports and notifications are submitted through the Ariadni government portal. Each constituent entity of an MNE group that requires a filling needs to be registered with this portal for CbC purposes.
For non-compliance, Cypriot constituent may be charged a penalty of up to EUR 10,000 and EUR 5,000 for each CbC report and notification. Under certain circumstances, each penalty may be increased to as high as EUR 20,000.
