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One of the current priorities for the Cyprus Tax Department is to modernise the administration of the tax system, moving away from a paper-based system to a more streamlined electronic system...
One of the current priorities for the Cyprus Tax Department is
to modernise the administration of the tax system, moving away from
a paper-based system to a more streamlined electronic system for
submitting returns, and for making payments and refunds, both for
direct taxes such as income tax and Special Contribution for
Defence, and for VAT.
The department stopped accepting paper VAT returns after 28
April 2017. All returns now have to be submitted electronically via
the Taxisnet system, and the VAT liability can be paid via
electronic banking, avoiding the need to visit a bank branch.
The Tax Department has now announced that refunds of VAT will
also be processed electronically by bank transfer, and that cheques
will no longer be issued for refunds. Taxpayers who have applied
for a VAT refund are required to provide the Tax Department with
details of the account into which the refund should be made using
the prescribed form, which is available on the department's
website.
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