Insider Economy Tax office in Cyprus targets doctors, lawyers, accountants

Tax office in Cyprus targets doctors, lawyers, accountants

Doctors, dentists, lawyers and accountants have come under the microscope of the  island’s Tax Department within the framework of tax compliance and risk management campaigns.

The Annual Tax Department’s report for 2017 shows that 1,451 letters were sent out to taxpayers under these categories who are considered high risk. As part of the campaigns, the Tax Department is also making it easier for them to comply with their obligations.

In 2017, the Department’s officers placed taxpayers related to foreign entities under the microscope. At the time, they had sent out a total of 644 letters informing of taxes that had to be paid.

Meanwhile, the Department has launched a compliance campaign for taxpayers who were found to have undeclared earnings in their tax returns, such as rentals and imported vehicles for resale.

Tax collectors have contacted a total of 1,281 taxpayers with undeclared earnings.

 

 

 

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