Cyprus: Parliament approves a bill for the payment of overdue taxes by monthly instalments

Posted on Updated on

The Cyprus Parliament has recently approved and voted the bill proposed by parliamentary parties which regulates the payment of overdue taxes in various monthly instalments. Overdue debts under €100,000 can be paid in 54 monthly instalments whereas those exceeding €100,000 can be paid in 60 instalments.

 The new Law gives the Tax Commissioner the right to reduce the interest and penalties applicable to overdue income taxes, capital gains tax, stamp duties, SDC and VAT provided the taxpayer meets certain obligations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s