Cyprus has reduced the interest rate for late tax payment from 4.5% in 2014 to 4.0% in 2015. Administrative penalties of €100 to €200 plus 5% of the underpaid tax also apply.
The 4.0% interest rate for underpaid tax also applies for overpaid tax.
OrbitaxCyprus Sets Interest Rate for Underpaid and Overpaid Tax for 2015
