The island’s Tax Department is clearing out old accounts so as to be “updated” with new obligations, according to insiders. That’s why it has returned mainly income tax amounting to €41.4 million to a total of 176,034 taxpayers over the past two years. Specifically, 3,524 taxpayers saw returns in their accounts amounting to €1.5 million. In addition, the department returned a total of €39.9 million to 172,510 pensioners.
Up until the end of July, taxes of €13.1 million had been returned to 56,964 individuals. Of these, 56,175 concerned retirees who received return taxes of €12.7 million while 789 self-employed taxpayers received a total of €393, 400.
Up until the tax year 2012, €3.5 million had been refunded to 12,183 taxpayers. Another 34,935 taxpayers were reimbursed with a total of €6.7 million for tax year 2013 and 7,535 persons received tax refunds of € 1.7 million for 2014. Another 912 persons received tax reimbursements of €421,600 for 2015 and 1,032 taxpayers got refunded with a total of €463,500 for 2016.
For fiscal year 2017, the total amount of €103,100 was refunded to 205 taxpayers, another 140 taxpayers received a total of € 77,400 for the tax year 2018. For fiscal year 2019, 22 taxpayers have been refunded with €6,900 thousand up until July.
In 2018, total refunds amounted to €13.3 million and were granted to 58,572 taxpayers, 57,335 of whom were pensioners receiving €12.8 million. The remaining 1,237 were self-employed persons who received tax refunds of a total of €518,100. Specifically, 52,122 taxpayers were reimbursed with €10.4 million for the year 2012. Another 1,438 taxpayers got €562,900 for 2013, 1,484 persons got a total of €494,300 for 2014. For the fiscal year 2015 there was a refund to 1,555 taxpayers amounting to €547,900. In 2016, the income tax return covered 1,498 payers and amounted to €571,400.
Refund tax for 2017 went to 397 payers who got a total €647,400. For the tax year 2018, 78 persons got returns totalling €48,900.
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https://in-cyprus.com/some-20000-electronic-tax-returns-filed-within-a-week/
