On 29 June 2018, the House of Representatives of Cyprus extended further the deadline for submission of a claim for the payment of tax arrears to 3 January 2019.
The law limits the time by which tax returns upto the tax year 2015 not yet filed may be filed. The submission date of all such tax returns by taxpayers has been extended to 31 December 2018 in order to benefit with the provisions of the law.
In our tax alert dated 2 October 2017 we have provided extensive details of the taxes covered, the tax liabilities which are subject to these arrangements and the reduction in the penalties and interest due on taxes in arrears, which depends on the number of instalments agreed (with the maximum number of instalments being 60).
Produced by Baker Tilly South East Europe