The submission of the Country-by-Country (CbC) reporting/notification obligations in Cyprus is due by 31 December 2022.

CbC reporting requires large multinational enterprises (MNE) to file a CbC report that will provide a breakdown of the amount of revenue, profits, taxes, and other indicators of economic activities for each tax jurisdiction in which the MNE group does business. CbC reporting only applies to MNE groups with annual consolidated group revenue of €750 million or more in the preceding fiscal year (MNE Groups). This deadline applies to the:

• submission of CbC reporting for the tax year 2021, regarding MNE Groups with a financial year ending on 31 December 2021; and
• submission of CbC notifications for the tax year 2022, regarding MNE Groups with a financial year ending on 31 December 2022.

Cyprus implements CbC reporting requirements through the Assessment and Collection of Taxes Law (Exchange of Information in the context of the Multilateral Competent Authority Agreement for the exchange of Country-by-Country reports) Decree of 2017.

Tax Department’s calendar for December 2022 can be seen here.