Ιn relation to the enactment of the law with respect to the regulation of overdue taxes, the Tax Commissioner has issued a notice on how to implement the relevant law:

Αn application for inclusion in a regulatory plan must be submitted within three months from the effective date of the law (the law is effective from the July 3, 2017) i.e. by 3 October 2017 via the government gateway portal called ‘Ariadni’.

The tax liabilities subject to this law are:

  1. All taxes in arrears up to and including 31 December 2015
  2. Taxes which become payable as a result of the submission of a self-assessment in relation to tax years up to 31 December 2015
  3. Tax liabilities which are assessed after 3 July 2017 by the Tax Commissioner relating to tax years until 31 December 2015.

The percentage of exemption from paying interest and penalty charges as well as the amount of monthly installments, the following applies:

  • for a one off payment, 95% will be exempt -οnce the one-off payment is made within the next two weeks, there is no need for the registration process at the Ariadni government portal.
  • from 2 to 8 installments, 90% exemption
  • from 9 to 15 installments, 85% exemption
  • from 16 to 21 installments, 80% exemption
  • from 22 to 28 installments, 75% exemption
  • from 29 to 35 installments, 70% exemption
  • from 36 to 42 installments, 65% exemption
  • from 43 to 49 installments, 60% exemption
  • from 50 to 56 installments, 55% exemption
  • from 57 to 60 installments, 50% exemption.

The payment of the agreed installments will be made via the financial institutions or at the relevant service of the Tax Department.

The tax liabilities subject to regulation will not be subject to interest or penalty charges for late payment, which is otherwise provided under the relevant legislation.

As per the relevant notification, under certain circumstances of non-compliance by the tax payer, the regulation can be terminated, resulting to the obligatory immediate settlement of the outstanding balance of the tax liabilities by the tax payer.
 
In cases where there are pending criminal proceedings against a taxpayer, and the taxpayer applies for a regulation which is approved, the criminal proceedings are suspended.

For further information, please do not hesitate to contact us.

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