Cyprus Mail
Cyprus

Football clubs must settle taxes by Monday

FIRST division football clubs must settle all their outstanding arrears by Monday at the latest or else be found in breach of UEFA regulations and have points deducted from their league standings.

During an informal meeting with Cyprus Football Association (CFA) officials late yesterday, clubs were told to pay up or face the sanctions, reports said.

Earlier it had been reported that today had been set as the cut-off point for settling all debts, although the three-day breathing space until Monday is unlikely to be enough for the clubs to get out of hot water.

The clubs had requested a meeting with President Nicos Anastasiades to ask for an extension to pay millions of euros in tax debt to the state or face a deduction of points.

Clubs owe millions to the state in the form of VAT, income tax, and social insurance, accrued between 2007 and 2013 but despite a repayment scheme, several still cannot respond to their obligations.

According to unconfirmed reports only four (of twelve) first division clubs have settled all their outstanding arrears with the state.

Under European football rules, the clubs must have their obligations settled or points will be deducted from their current standing in the league table.

Clubs were seeking a meeting with Anastasiades after Finance Minister Harris Georgiades refused to see them, pointing out that they had to pay their installments.


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