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12° Nicosia,
15 January, 2025
 
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Offside with the taxman as football execs face €35.5M penalty shootout

Indictments for over 100 football managers and executives

24news team

The technocrats of the Tax Department are continuing the process of finalizing indictments against football club directors and/or companies that failed to file tax returns and pay taxes between July 1, 2007, and March 31, 2023. This timeline aligns with the implementation of the most recent phased repayment plan.

This information is reported on the front page of today's edition of the newspaper Phileleftheros. The report also states that the Tax Department has prepared indictments for a total of €35.5 million in football-related debts, targeting over a hundred current and former directors as well as board members of football companies.

According to the report, some individuals may face prosecution for repeated non-compliance with tax obligations and other offenses.

Citing a reliable source, Phileleftheros notes that on Monday, January 13, the company APOEL Soccer paid €40,000 toward its Social Insurance debts.

Despite government-provided opportunities for settlement, the Minister of Finance, Makis Keravnos, stated that as of yesterday, there has been no response from the football clubs. This lack of response mirrors the challenges faced in other cases involving companies and citizens with debts to the state.

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Cyprus  |  football  |  taxscandal

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