Late submission of HE32 form shall have a maximum penalty of EUR 150

The Cyprus Parliament voted and amended law to the Companies Act, Cap 113, Law 87(I)/2022, pursuant to which the maximum penalty for the late submission of the Annual Return (HE32) with drafting date in 2021 and 2022, shall be EUR 150 maximum instead of EUR 500 that it used to be.  Any penalty fees already imposed can be reimbursed.