ARTICLE
13 September 2018

Communication With The Cyprus Tax Department

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
On 7 September the Tax Department announced further steps in its programme to improve efficiency and speed communication with taxpayers.
Cyprus Tax

On 7 September the Tax Department announced further steps in its programme to improve efficiency and speed communication with taxpayers.

Form ΤΦ 1006 , the reminder to submit a VAT return, which was previously sent by mail to taxpayers who had not submitted a VAT return by the due date, will now be sent only by email to the taxpayer's recorded email address.

In addition the payment of VAT refunds by cheque ceased with effect from 1 August 2018, with all refunds from that date being made by bank transfer. Taxpayers were notified in advance of the change and requested to provide up-to-date bank account details, particularly if they had applied for a refund.

The Tax Department has again advised taxpayers to ensure that it has the requisite bank account information, by completing and submitting form ΤΦ1900 – 2017 and supporting documents to their local District Office or by mail to the department's headquarters. Refunds will not be made unless the department has a valid form ΤΦ1900 – 2017 showing the requisite bank details.

Taxpayers who have already submitted the form do not need to submit it again unless their bank details have changed.

The Tax Department intends to move to exclusively electronic means of communication in the near future, and advises taxpayers to ensure that they notify any change of e-mail address through the Taxisnet service, in order to maintain communication.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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