Cyprus among top three EU performers in recouping VAT
EU countries lost €137 billion in Value-Added Tax (VAT) revenues in 2017, according to a study released by the European Commission on Thursday. Cyprus with...
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Taxman on brink of busting huge evasion network, he says
By George Psyllides The tax department is on the brink of busting one of the biggest VAT dodging network on the island dealing with intra-community...
Does Robin Hood promote tax compliance or does he promote tax evasion?
By Christos P. Panayiotides The question sprang to my mind when I read the special report compiled by the internal audit service of on the...
Football’s ‘black’ contracts sideline the taxman
EARLIER this month, the world football player union FIFPro charged that it had received several complaints from members in Cyprus that they had not received...
House passes law for obligatory electronic submission of tax returns
The House plenum on Friday passed into law a bill providing for the obligatory electronic submission of tax forms. The law is aimed at making...
Law passed allowing overdue taxes to be paid in instalments
Parliament on Friday passed legislation affording people the opportunity to repay overdue taxes in monthly instalments. The law concerns debts to VAT, immovable property, income...
86 people on ‘Lagarde List’ have been sent tax notices
The first leg of the Tax Department’s investigation into a list of deposits in Swiss HSBC bank in 2003 has been completed, with 86 individuals...
€1m in dodged taxes already taken from ‘Lagarde List’ accounts
By Angelos Anastasiou About €1 million in previously unpaid taxes has already been seized from bank accounts by the Taxation Department, and undeclared deposits found...
The taxing time is here
By Hermes Solomon We’ve all received one by now and most of us have thrown it into a drawer and forgotten about it. Tax returns...
Former CBC boss’ defence seeks leniency
By Stefanos Evripidou THE SENTENCING of former Central Bank governor Christodoulos Christodoulou in relation to tax offences covering a €1 million undeclared cash transfer from...
Direct tax revenue dips in first eight months
Direct tax revenue in the first eight months of the year fell 2 per cent to €1.17 billion compared to the same period in 2013,...
New tax tsar appointed
The House Finance Committee on Monday approved the appointment of the tax tsar and his deputy. Yiannakis Lazarou, a state attorney, was appointed to head...
House, unions seek to limit cabinet role in tax tsar appointment
By George Psyllides CONCERNS WERE expressed on Monday over the appointment of a tax commissioner who will head a single authority after the integration of...
Deadline for tax returns
The deadline for the manual submission of tax returns to the Inland Revenue Department (IRD) is Wednesday, April 30, while online submissions through the TAXISnet...
Income tax revenue down for Jan-Feb 2014
Income tax revenue dropped 8.0 per cent or 27.3 million year-on-year for January and February, it was announced on Friday. According to data released by...
Fury over taxman’s plans to dip into bank accounts
By Angelos Anastasiou A BILL allowing the taxman to seize personal property – including bank deposits to settle unpaid dues to the government without a...
‘Difficult to escape’ debts owed to state
Suspending legal action against those who owe the state money would be difficult, said DIKO MP Angelos Votsis yesterday. Votsis, who was chairing the house...
Most people have paid their IPT
THE VAST majority of property owners paid their immoveable property tax (IPT) before Tuesday’s deadline when the special 10 per cent discount offer expires. According...
IPT collection falling short of targets
PROTRACTED discussions on the immovable property tax (IPT) bill is stopping people from paying and could derail revenue targets, the government said yesterday, as it...
Beleaguered charity to meet environment commissioner over charitable status
By Maria Gregoriou ANIMAL welfare charity Paphiakos is to meet Environment Commissioner Ioanna Panayiotou today following a decision by Inland Revenue to strip it of...