The tax authorities are increasing the burden on owners choosing to rent out their property short-term.
TAXATION
After many months of outperformance, March tax revenues were slightly short of the budget target.
The 300,000 citizens who have downloaded the appodixi application, which verifies the veracity of company receipts, are demonstrating their active participation in supporting the tax control system. Since the app was launched in September 2022, 163,610 complaints of falsified receipts have been filed. Of these 89,408 are anonymous, while 74,202 of them are not. The […]
Tax audits have made a huge leap in recent years, mostly in terms of their quality.
Incomes totaling around 1 billion euros were hidden by 1,048 taxpayers and businesses and revealed by AADE.
A study on the level of chargeable income tax is in progress, as part of the tax reform in Cyprus, President Nikos Christodoulides said on Thursday.
The Independent Authority for Public Revenue (AADE) is establishing a special forces squad for tax and customs audits.
One in five property owners will pay a reduced Single Property Tax (ENFIA) this year.
The Single Property Tax (ENFIA) pay slips for approximately 7.3 million property and business owners have been posted on the myAADE digital portal for the financial year 2024.
Fines and surcharges will be reduced by up to 50% in the event that the taxpayer acknowledges their main debt.
More than 1,000 enterprises risk high fines that reach up to 20,000 euros each.
Employers in Cyprus are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness.
After many decades of endless queues, frustration and bickering, the end of the tax office – at least as we know it – has come.
The Independent Authority for Public Revenue (AADE) is tracing the money trail for thousands of properties that were either bought in full with cash or part of the price was paid in cash. At the same time, the target is 2,500 real estate cases with a year-end statute of limitations.
Taxpayers who choose to pay the total amount of their income tax dues this year in one lump sum by July 31 will secure a 3% discount, according to the amendment the National Economy and Finance Ministry submitted in Parliament.
The audit mechanism must complete each audit it undertakes within two years, according to new rules on the tax administration.
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