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61. Israeli tax authorities probe Israeli investor activities in Cyprus

Israeli tax authorities are investigating the extensive business activities of Israeli investors in Cyprus, as revealed by Shai Aharonovich, head of Israel's Tax Department, in a report by leading financial newspaper, Globes....

62. Journalist's fight for justice against state broadcaster spans 17 years

In Cyprus, a journalist named Evdokia Loizou fought a 17-year legal battle against CyBC, the state broadcaster....

63. EY Cyprus releases the Cyprus Tax Facts Guide 2024

EY Cyprus is delighted to announce the release of the latest edition of the Cyprus Tax Facts guide for the year 2024....

64. Deloitte’s Tax Facts 2024

65. Over 215M COVID vaccines trashed, €4B down the drain

In a concerning revelation, European countries have disposed of more than 215 million doses of COVID-19 vaccines, originally procured at the peak of the pandemic....

66. DAC6 revisited through the prism of DAC8

The Directive on Administration Cooperation (''DAC'') has been amended multiple times since 2011 to allow for the automatic exchange of information across multiple fields of taxation....

67. Tax audits expose unexplained remittances

Remittances abroad that are not justified by incomes declared in tax statements, problematic parental concessions or donations to children with sums of money directly “from the mattress,” and undeclared earnings were detected by the tax inspection centers in the audits they carried out in the first seven months of the year. ...

68. Tax return deadline extended to October 31

The Finance Ministry has announced an extension of the tax return submission deadline for the year 2022 until October 31, 2023, at 23:59. This extension comes after a proposal presented to the Council of Ministers....

69. AI's role in shaping future warfare

The war in Ukraine has brought about significant changes, including how wars will occur in the 21st century. These changes are quite substantial. Suddenly, everyone realizes that inexpensive unmanned aerial vehicles can inflict more damage than costly traditional military planes....

70. Former Finance Minister continues to question EuroAsia project

Former Finance Minister Constantinos Petrides has returned to the issue of the Eurasia Interconnector, expressing concerns and raising important questions. In a post on the "X" platform, he highlighted the need for transparency and clarity surrounding this significant and costly project....

71. Cyprus gov't to pay €345,000 to Turkish Cypriot for illegal use of property

The big news: "Compensation of €345,000 will be paid to a T/C of American origin by the Republic of Cyprus, while also returning his property in Limassol, which was being used illegally....

72. Unmasking tax evasion on Greek islands

New technologies, as well as citizens, are bringing cases of major tax evasion to the surface....

73. MPs move forward with divestment changes

MPs are displaying a resolute determination to press ahead with crucial changes to the divestment framework before the parliamentary summer recess....

74. Cabinet approves tax deductions for businesses and extends tax payment deadline

The Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline, and a suspension of the obligation to file tax returns for individuals with a taxable income below €19,500....

75. King Charles: the properties he is forbidden to sell

King Charles inherited $500 million in assets after the death of Queen Elizabeth, but that's only part of his fortune....

76. TaxApp.cy: The easy way to submit a tax return

With TaxApp, taxpayers can easily and quickly submit their tax returns while ensuring correct submission. ...

77. EY report: Governments need new ways of working to seize digital opportunities

Governments around the world are at risk of failing citizens through lack of digitalization, according to EY research presented in a new report: “How can government workers and technology align to serve future citizens?”. ...

78. Newly appointed presidential advisors to work pro bono

President Nikos Christodoulidis has appointed two new special advisors to his team to help with economic affairs and crisis management, respectively....

79. Tax evaders beware of what you post on social media

According to a report in the Sunday edition of realnews.gr, the Greek Government plans to identify hidden income earned by individuals and companies that conduct business online. ...

80. Tax Department: €70 million in taxes refunded - €200 million to be collected

An intensive effort by the Tax Department in recent months has resulted in a refund of over €70 million in excess taxes, with an additional €200 million expected to be collected, according to Tax Inspector Sotiris Markides. He emphasized that the Department aims to clear all outstanding Company and Individual Returns by the end of 2023....

81. Bad luck can't always be held responsible

“It was an unfortunate moment,” the stationmaster in the deadly train crash is said to have claimed. How many times has the inadequacy and failure of the broader Greek state mechanism been hidden behind such phrases? Sometimes it is blamed on “bad luck,” at others, it is dismissed with “That’s Greece.”...

82. Rishi Sunak gets tough on irregular immigration

Prime minister Rishi Sunak will introduce new laws this week barring anyone arriving in the UK by small boats across the English Channel from claiming asylum....

83. The expansion of the digital economy and the upcoming exchange of information and tax transparency regimes

The exchange of information has been widely considered as a one of the most effective measures in tackling tax evasion and protecting the integrity of tax systems. ...

84. Cyprus helps uncover VAT carousel fraud

Cypriot authorities swung into action after an investigation of fraudulent activity in Portugal was expanded through the European Public Prosecutor’s Office, with several companies on the island reportedly linked to a scheme that cost Lisbon tens of millions in tax revenue...

85. Government owed €16.2m from ineligible first time home buyers

More than 270 people who benefited from the reduced rate of 5% VAT for first-time home buyers, have been found to be ineligible, following checks carried out throughout Cyprus by the Tax Department, and should be charged 19% VAT, totaling €16.2 million announced on Wednesday the Minister of Finance, Constantinos Petrides, after the Council of Ministers. He also announced on-site checks on other categories of taxpayers and types of taxes....

86. Tax returns from prior years being cleared quickly

The Tax Department is proceeding rapidly with the clearing of the Tax Declarations of companies and individuals from previous years with the aim of having all the declarations cleared by the summer of 2023, Tax Commissioner, Sotiris Markides, told CNA....

87. Nouris: EU should sanction countries that instrumentalize migration

The EU should have concrete sanctions in place when there is proof that migrants are being instrumentalized, as in the case of Cyprus, Interior Minister Nicos Nouris said....

88. Russia says no to oil price caps, warns of cut off

The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia's energy resources - caps that Moscow said would lead to significant destabilization of the global oil market....

89. Irregular immigration, the responsibilities of Turkey and the EU

"Turkey will take all necessary measures to prevent the opening of new sea or land routes of irregular migration from Turkey to the EU and will cooperate in this regard with neighboring countries as well as the EU." ...

90. Tax filing deadline extended by one month

The Council of Ministers today announced the extension of the deadline to file personal income taxes from July 31st to August 31st, 2022. according to the announcement by Finance Minister Konstantinos Petridis....