Cyprus:
Automatic Matching Of VAT Payments
13 November 2017
Elias Neocleous & Co LLC
To print this article, all you need is to be registered or login on Mondaq.com.
The Cyprus Tax Department has announced that, following the
latest improvements of the TAXISnet system for electronic
submission of VAT returns, there is no longer any need for
taxpayers to input details of VAT payments or to submit a copy of
the payment receipt to the Tax Department.
Payments of VAT made through Internet banking or at bank
branches will now automatically be credited to the individual
taxpayer's record.
This does not apply to VIES and INTRASTAT payments, details of
which still have to be submitted to the Tax Department.
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.
POPULAR ARTICLES ON: Tax from Cyprus
Tax Saving Tips For Your Cyprus Company
McMillan Woods
Cyprus has an extensive network of double tax treaties with various countries, which can help in reducing or eliminating double taxation. Take advantage of these treaties to minimize your tax liabilities.
Green Tax Incentives - Increase In Capital Allowances
KPMG in Cyprus
Following the publication in the Government Gazette on 12 April 2024 of Law N.45(I)/2024, increased capital allowances will be granted on capital expenditure incurred during the tax years 2023-2026 ...