Dec 13, 20110

Cyprus to Collect Years of Back Taxes

Categories: Taxation in Cyprus

NICOSIA – The government of Cyprus intends to collect all unpaid taxes in the country for the last six years in an effort to lower the budget deficit by 4 percent. While speaking to the Committee of Finance of the House of Representatives on December 11th,the Finance Minister of Cyprus Kikis Kazamias stated that taxpayers [...]

NICOSIA - The government of Cyprus intends to collect all unpaid taxes in the country for the last six years in an effort to lower the budget deficit by 4 percent. While speaking to the Committee of Finance of the House of Representatives on December 11th,the Finance Minister of Cyprus Kikis Kazamias stated that taxpayers currently owe the government more than EUR 400 million in back taxes, which are planned to be recovered throughout 2012. The collections effort is intended to work ... Read More

Mar 4, 2011Comments Off

Harmonization Pact Will Not Effect Cyrpsus Tax

Categories: Taxation in Cyprus

Cyprus will not see an increase in its corporate tax rate as a result of the “harmonization pact” proposed by German Chancellor Angela Merkel and French President Nicolas Sarkozy. On March 2nd the Cyprus Chamber of Commerce and Industry (KEVE) published a press release stating that there will be no increase to the country’s corporate [...]

Cyprus will not see an increase in its corporate tax rate as a result of the “harmonization pact” proposed by German Chancellor Angela Merkel and French President Nicolas Sarkozy. On March 2nd the Cyprus Chamber of Commerce and Industry (KEVE) published a press release stating that there will be no increase to the country’s corporate tax rate as a result of the controversial proposal for an EU “harmonization pact” brought forward by France and Germany in February. The “harmonization pact” proposed that all EU ... Read More