03/10/2003 09:55
The Inland Revenue Department and the Added Value Tax Department have joined forces in an effort to receive all the uncollected taxes, after the relevant decision of the Council of Ministers and the Finance Minister, Marcos Kyprianou.
According to StockWatch sources, the uncollected taxes have reached £60 million, while the government has decided to receive this amount at all costs so as to deal with the fiscal deficit and the unexpected impacts from the island’s prospects in the Economic Monetary Union. It is noted the EU Enlargement Commissioner, Gunter Verheugen said that Cyprus has stayed back in harmonization issues (energy policy).
Finance Ministry high-ranking official told StockWatch that the government has expressed its decisiveness to take strict measures to eliminate tax evasion and make all Cypriot citizens realize that a) they must be consistent with their tax liabilities and b) the government will not tolerate illegalities.
According to StockWatch sources, the uncollected taxes have reached £60 million, while the government has decided to receive this amount at all costs so as to deal with the fiscal deficit and the unexpected impacts from the island’s prospects in the Economic Monetary Union. It is noted the EU Enlargement Commissioner, Gunter Verheugen said that Cyprus has stayed back in harmonization issues (energy policy).
Finance Ministry high-ranking official told StockWatch that the government has expressed its decisiveness to take strict measures to eliminate tax evasion and make all Cypriot citizens realize that a) they must be consistent with their tax liabilities and b) the government will not tolerate illegalities.
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