Antis Triantafyllides & Sons LLC drafted amendments transposing the EU Directive relating to public disclosure of income tax information
We are proud to have advised the Department of Registrar of Companies and Intellectual Property on the transposition, into Cypriot legislation, of the Directive (EU) 2021/2101 of the European Parliament and of the Council of 24 November 2021 amending Directive (EU) 2021/2101 as regards disclosure of income tax information by certain undertakings and branches.
Our firm was entrusted with drafting the Companies (Amendment) (No. 5) Law of 2024 (Law No. 138(I)/2024), which amended the Cyprus Companies Law (Cap.113) and which was published in the Official Gazette of the Republic of Cyprus on 6 December 2024.
The new legislation provides that certain entities must publicly disclose specific income tax information. The entities falling within the scope of this requirement are:
(a) ultimate parent undertakings, and
(b) standalone undertakings registered in Cyprus under the Cyprus Companies Law (Cap. 113) with consolidated revenues over EUR 750 million in each of the last two consecutive fiscal years.
In addition, medium-and large-sized companies registered in Cyprus having a non-EU parent company, the consolidated revenues of which are over EUR 750 million in each of the last two consecutive fiscal years and foreign companies having a place of business in Cyprus the annual turnover in Cyprus of which exceeds EUR 8 million and are connected to an entity described in paragraphs (a) and (b) above, also fall within the ambit of this law.
February 2026, Antis Triantafyllides & Sons LLC, Nicosia, Cyprus