#tax

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. ...

The tax break scheme for attracting foreign high earners and bringing in qualified professionals to sectors such as IT has been a success, said the permanent secretary at the finance ...

The Tax Department said on Tuesday that an amending law providing for income tax exemptions for non-residents of Cyprus has come into effect, and that the relevant tax form would ...

It was encouraging to hear Finance Minister Makis Keravnos defending the government’s decision to end the subsidy of all electricity bills and the reduction of the consumer tax on ...

Inland Revenue warned on Saturday that electronic messages are circulating with the government domain @gov.cy purporting to be from the tax office and requesting banking information from recipients “in ...

The new online tax payment system Tax For All went live on Monday, replacing the old Taxisnet system. To allow users to familiarise with the new system, the tax department ...

New online tax payment system Tax For All will launch on March 27, replacing Taxisnet, the tax department said on Monday. Speaking to state broadcaster CyBC on Monday, Tax Commissioner Sotiris ...

The ‘government’ in the north on Tuesday officially repealed a decree to tax people’s salaries to provide earthquake relief to Turkey. According Yeni Duzen, the official decision of the ‘...

The European Union on Tuesday announced that it had added the British Virgin Islands, Costa Rica, Marshall Islands and Russia to its list of non-cooperative jurisdictions for tax purposes. This ...

Lawmakers on Monday began discussion of a bill seeking to tax the sale of second-hand jewellery and precious metals. In recent years, particularly in the wake of the 2013 financial crash, ...

The land and surveys department on Thursday published its new evaluations for January 1, 2021, covering a total of 1,660,048 properties — 25,102 or 1.5 per cent more than the 2018 survey. The total value of the ...