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What happens if a Cyprus IBC fails to file taxes?

It doesn't make any difference if the company has appointed nominees or not, if it don't file tax and work out some accounting the company will be taken off the registry after some time, that's pretty simply. There will be no harm towards the owners! It's like it is in most part of Europe when you form an LTD.
 
It doesn't make any difference if the company has appointed nominees or not, if it don't file tax and work out some accounting the company will be taken off the registry after some time, that's pretty simply. There will be no harm towards the owners! It's like it is in most part of Europe when you form an LTD.

Are you still allowed to do business if you failed to file the company's tax report? Do they have grace period or penalties?
 
I thought there are gonna be legal charges that will be pressed against you or your company. I'm very surprised that nothing is gonna happen to you haha. Normal people would panic but these professionals here would not even bother with it nai¤%
 
Better you pay your tax if you want your company to stay...if you don't care or don't want to use that anymore than it is a different topics;)
I think even if you don't want to use it or you don't want that company anymore, as long as you haven't paid the due taxes, there will be notice letters coming for you to pay them until they are settled.
 
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Yeah sooner or later they will kill the company because it files to file the tax and financial reports. The same happen if you don't pay the Duty fee for 1 year they will simply take of the company from the registry and it's almost impossible to restore the company after that.
 

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