#tax

Residents of the Nicosia district are to pay a new rainwater tax, district governor Constantinos Yiorkadjis said on Wednesday, describing the tax as “necessary”. Speaking to the Cyprus News Agency, ...

Payoffs for employees taking early or voluntary retirement will be subject to income tax under a sweeping reform plan, the government announced on Tuesday. The draft legislation, part of a ...

The department of taxation’s online systems are set for a temporary shutdown in the coming days as part of a planned technology upgrade. In an official statement, officials confirmed ...

The Republican-controlled U.S. Senate narrowly advanced President Donald Trump’s, sweeping tax–cut and spending bill on Saturday, during a marathon weekend session marked by political drama, division and ...

The tax department is “putting the final touches” on bills which, if passed into law, will bring about sweeping changes to Cyprus’ tax system, according to reports on Friday. The ...

The nonpartisan Congressional Budget Office on Wednesday projected that President Donald Trump’s tax-cut bill, as passed by the U.S. House of Representatives, would increase the number of uninsured ...

Two green taxes remain under discussion with the EU, both in terms of content and compensatory measures, government spokesman Konstantinos Letymbiotis said on Tuesday. He added that the final proposal ...

Football clubs which owe money to the state in the form of unpaid taxes can re-enter the government’s tax repayment plan if they can pay the instalments they missed, ...

Football clubs that owe the state millions in tax have apparently received a new reprieve until the end of April to repay part of their debts, reports said on Tuesday. ...

Five football clubs on Wednesday offered to pay a third of the tax debt they owe to the government immediately. The proposal was made by Ael, Apoel, Apollon, Anorthosis and ...

A Nicosia football club will be facing trial this week over the non-payment of €2.3 million in social insurance contributions, it emerged on Monday. It is apparently the first such trial ...

In managing the Cyprus economy, decision-makers focus on real GDP growth and whether the government is generating surpluses. Indeed, government officials backed by the European Commission, the IMF and numerous ...

Cyprus and Kyrgyzstan successfully concluded negotiations over a Treaty for the Elimination of Double Taxation with respect to taxes on income and the prevention of tax evasion and tax avoidance, ...

A carbon tax on water of one cent per cubic metre is to be imposed on consumers as part of the green taxes due to come into effect soon, the ...

In response to the ongoing investigation by the Israel Tax Authority (ITA) into Israeli assets in Cyprus, officials from Cyprus’ finance ministry and accounting associations have both acknowledged that the ...

The Israel Tax Authority (ITA) has initiated a comprehensive operation aimed at identifying assets, income and companies owned by Israeli nationals in Cyprus that should be subject to Israeli taxation, ...

The large magnitudes of tax evasion and tax avoidance are having a profound impact on the economy and citizens of Cyprus. Tax evasion is defined as the deliberate non or ...

In reforming the Cyprus tax system basic conditions of adequacy, fairness, and its effective and uncomplicated administration should be met While the Cyprus government is repeatedly advertising the good performance ...

The political elite implements policies favouring the business elite, while cementing their own status and power Political capitalism broadly defined is an economic system in which the business elite and ...

A new property tax was introduced in 2021, but because of a mistake at the House, the tax didn’t actually come into effect until 2022. It is a tax of 0.4 per ...

A ten-year legal battle was won by the expats, but nothing has changed Residents of Aphrodite Hills and Ha Potami, nestled within the scenic Kouklia village in the Paphos district, ...

The north’s ‘finance ministry’ on Saturday revealed the top three tax-paying companies and individuals over the course of 2022. The highest tax-paying company was Turkish bank Turkiye Is Bankasi, which ...

Lack of controls by authorities enables illegalities The system of taxation of real estate seems to leave enough room for exploitation and tax avoidance, due to loopholes in the legislation ...

It hurts the economy, society and the environment Under the democratic system of Cyprus the executive and legislative branches of government are elected by the people to serve the people. ...