MNE groups must submit CbC reports for the 2024 fiscal year if their year-end is 31 December 2024, as well as CbC notifications for the 2025 fiscal year if their year-end is 31 December 2025.
MNE groups in Cyprus must submit country-by-country (CbC) reports for the 2024 fiscal year (if their year-end is 31 December 2024), and CbC notifications for the 2025 fiscal year (if their year-end is 31 December 2025) by 31 December 2025.
For groups with accounting year-ends other than 31 December, alternative deadlines may apply.
CbC reporting applies to large MNE groups with annual consolidated revenue of EUR 750 million or more in the preceding fiscal year. Cypriot entities within these groups are required to file CbC notifications locally. In some cases, they may also need to file CbC reports, particularly if they act as the ultimate parent entity (UPE), a surrogate parent entity (SPE), or if a local secondary filing obligation arises.
All CbC reports and notifications must be submitted through the government portal, and Cypriot entities involved must register on the platform for CbC purposes.
Noncompliance with these obligations can result in penalties, including fines of up to EUR 10,000 for general noncompliance and EUR 5,000 for each CbC report or notification, with potential increases to EUR 20,000 in some instances.
Earlier, Cyprus published the Companies (Amendment) (No. 5) Law of 2024 on 6 December 2024, implementing the EU public CbC reporting rules for groups with annual consolidated revenues of at least EUR 750 million in the last two consecutive years.
