Cyprus Extends Tax Amnesty Lump Sum Payment Period
by Lorys Charalambous, Lowtax.net, Cyprus
17 July, 2017
Cyprus's Tax Department has extended the period in which taxpayers can pay back taxes with a lump sum payment under the recently-announced tax amnesty.
The amnesty is open to taxpayers who have filed all tax returns due by December 31, 2015, and paid (or arranged to pay) all taxes due as of January 1, 2016.
Until July 21, 2017, only taxpayers who pay all outstanding taxes in a lump sum and are able to make payment. After that, taxpayers will be invited to register with the "Ariadni" Gateway Portal to pay in installments. Initially, the lump sum payment period was to close on July 17, two weeks after the amnesty's launch.
Taxpayer's who settle their debts with a lump sum payment under the amnesty will benefit from a 95 percent reduction in financial charges linked to unpaid taxes.
Those wishing to make a lump-sum payment must complete Form 2005E/2017 and submit it in person to the district tax office.
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