Cyprus Mail
Cyprus

Majority of politically exposed persons failed to file tax returns on time

A little more than half of individuals designated as Politically Exposed Persons (PEPs) failed to file their tax returns on time, a report by the Audit Office has shown.

Of 154 PEPs, 84 filed their paperwork outside the allotted deadline. The auditor-general’s investigation, requested by the House watchdog committee, spanned the period 2008-2015.

The names of the delinquent PEPs have not been published, but are included in a confidential report submitted to the committee.

PEPs include the president, ministers, House presidents, MPs and political party leaders.

According to information that was made available, the delays in filing tax returns during the period in question ranged from one year to seven years, in certain cases.

Of the 84 delinquent cases, there were two where no administrative fine was imposed.

According to a letter by the Tax Commissioner dated May 2018 regarding the matter, only nine PEPs entered into an installment scheme to gradually repay their tax arrears.

 

Five of these cases have been fully repaid, while the other four are being serviced normally.

 

The Tax Commissioner said the calculation of taxes due, as well as the discounts offered for a repayment scheme, are fully automated and there is no human intervention.

 


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