Insider Business Debtors choose to pay taxes in multiple instalments

Debtors choose to pay taxes in multiple instalments

241 large debtors, each of whom owes €302,142 with the granted discount, were included in the long-term plan for overdue tax debts. According to Tax Department data, the 241 taxpayers opted for a tax plan of 57 to 60 instalments, with a 50% deduction on interest and penalties.

These debtors collectively owe €81.6 million. After the long-term arrangement with deductions, the state will collect €72.8 million.

From July 3, 2017 to June 17, 2018, the total number of similar arrangements reached 11,773, with an overall amount of tax liability of €394.8 million. The state, following the granting of discounts, is expected to collect €325.9 million.

This data was presented to  parliament in the context of the discussion of a bill put forward by socialist party EDEK. The bill proposed an extension of the deadline for submitting an application for the settlement of tax arrears to December 31, 2018. The original arrangement expires on July 3.

Top Stories

Christodoulides tells EU counterparts Turkey chooses to escalate tensions with Cyprus

The Minister of Foreign Affairs presented the ongoing illegal actions of Turkey in the Exclusive Economic Zone of Cyprus to EU's Foreign Affairs Council...

CSEC investigates possible match fixing for Match Day 4 of Cyprus League

The Cyprus Sports Ethics Committee (CSEC) is investigating a possible match fixing in the framework of the Match Day 4 of the Cyprus football...

US donates personal protective equipment worth €15,000 to Famagusta Hospital

US Ambassador in Cyprus Judith Garber handed over on Monday personal protective equipment valued at €15,000, including over 13,000 masks and over 600 goggles...

UK faces soaring COVID-19 death rate unless it moves fast, medics warn

Britain will face an exponentially growing death rate from COVID-19 within weeks unless urgent action is taken to halt a rapidly spreading second wave...

Egypt discovers 27 sarcophagi more than 2,500 years old

Archaeologists in Egypt have discovered 27 coffins at the ancient necropolis of Saqqara, a burial ground that is also home to one of the...

Taste

Chicken with okra and bulgur wheat

Heat the oil in a pan and sauté the okra until golden. Remove the okra, lay out in an oven tray and sprinkle with...

Swordfish with aubergines

To toast the sesame seeds: place sesame seeds in a small non-stick frying pan over low heat and stir until you begin to smell...

Ravioli

Just a little before serving, heat the broth and add the ravioli. (If the ravioli is frozen you don’t have to defrost). Heat them...

Seafood kebab with avocado salad

Place the mussels, shrimps and salmon in a bowl together with tarragon and lemon zest. Season and cover, keeping in the fridge for 15...