Cyprus Anti-COVID19 Measures in Shipping Sector
Extension of deadline for payment of the Cyprus Registry Maintenance Annual Fee and of the tonnage tax for Cyprus flagged vessels until 31 May 2020
In an effort to support shipping companies and owners of Cyprus flagged vessels facing challenges of COVID-19 outbreak, Cyprus Shipping Deputy Ministry (‘SDM’) has extended the date of payment of the Cyprus Registry Maintenance Annual Fee and of the tonnage tax for Cyprus flagged vessels until 31 May 2020 (instead of the normal deadline of 31 March 2020). The relevant Notification will be published in the Official Gazette of the Republic.
SDM offices electronic operation
For the smooth operation and the effective provision of quality services SDM has put in place special arrangements in order to ensure protection of public health. In particular, SDM has closed access to its offices to public until 30 April 2020 (or until further notice). For this reason, the public is kindly advised to submit electronically all requests and enquiries according to the relevant SDM Circular 6/2020 which provides email addresses depending on the topic of the enquiry/application and the description of the respective temporary procedure to follow.
For additional information with respect to this Alert, please contact the following:
Associate Partner, Audit Services
Tel: +357 25 209 707
Associate Partner, Tax Services
Tel: +357 25 209 737
Senior Manager, Tax Services
Tel: +357 25 209 736
EY | Assurance | Tax | Transactions | Advisory
EY is a global leader in assurance,tax,transaction and advisory services.The insights and quality services we deliver help build trust and confidence in thecapital markets and in economies the world over. We develop outstanding leaders who team to deliver on ourpromises to all of our stakeholders.In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
For more information about our organization,please visit ey.com © 2020Ernst&YoungCyprusLtd All rights reserved. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to youradvisors forspecificadvice. ey.com/cy