State tax revenue on the rise, audit report says
The amount of money the state is collecting in taxes is on the rise, a report into the tax department’s activities released by the audit office on Monday said, ...
Cyprus tax office targets €25m debt from Abramovich-linked firm
A company linked to Russian billionaire Roman Abramovich has been brought back onto the Cyprus companies register, allowing for possible indictments to recover nearly €25 million owed to the state in ...
Government firm on January 2026 deadline for tax reform, says president
The government is committed to implementing tax reform on January 1, 2026, and “this is something that cannot be changed,” President Nikos Christodoulides said on Tuesday.
The president convened a meeting to ...
Fake news scam poses as Cyprus Mail, Sir Stelios
A fake news scam which has circulated on social media in recent days has posed as the Cyprus Mail and Cypriot businessman Sir Stelios Haji-Ioannou.
The website, hosted at “limass....
Tax department crackdown on homeowners receiving reduced VAT
Officials from the tax department are set to crack down on homeowners who benefit from VAT reductions while renting out their property through AirBnB and Booking.com, it emerged on ...
Tax Department reports €700 million increase in collections
Last year authorities collected €700 million in taxes more than they did in 2022, the Tax Department said on Thursday, while conceding there was room for improvement.
Tax Commissioner Sotiris Markidis told ...
€2.5 billion in unpaid taxes, Audit Office report reveals
A whopping €2.5 billion in taxes is owed to the state, of which €1.1 billion are deemed doubtful as to whether it can be collected, a report released Thursday found.
The findings ...
Millions lost: Auditor-general slams lax income tax collection
Authorities continue to be lax in collecting income tax, and as a result the state is losing millions each year, the auditor-general said in parliament on Thursday.
Odysseas Michaelides was ...
Businesses not accepting plastic money faced with €4,000 fine
Businesses that refuse to accept card payments can be fined up to €4,000, the tax department said on Wednesday.
In its statement, the department refers to the relevant article of the ...
Tax department warns public of new SMS scam
The tax department warned that spam messages impersonating their services are being sent out in a likely fraud attempt.
The department on Tuesday urged the public to ignore the messages ...
Inland Revenue warns public to ignore any SMS about tax refunds
The tax department said on Thursday that anyone who receives an SMS text message purportedly from Taxisnet, to ignore it.
It said that messages with sender ‘TAXISnet’ with the words: “...
Tax chief asked to audit providers involved in passport services (Updated)
The Tax Department has been instructed to carry out strict audits of service providers involved in the citizenship by investment programme, Finance Minister Constantinos Petrides said in parliament on Thursday.
“...
Tax system reform is crucial for post Covid-19 recovery
By Andreas Charalambous
Based on current evidence, the next months are expected to be extremely challenging. The return to normality will still take some time and facing up to the ...