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Cyprus to create a single tax authority

Cyprus

As part of the structural changes aimed at streamlining public administration, the Cypriot Government has decided to create a single tax authority. Taxand Cyprus discovers the plans aimed at integrating VAT services with the Inland Revenue Department (IRD). 

The unification of the existing tax departments by strengthening the legal framework, simplifying procedures and optimising IT systems will reinforce its effectiveness on the basis of improved tax consciousness and justice.

The new department will expedite with ease citizens’ tax declarations while at the same time a positive impact on the revenue collection for the State will be achieved, mainly through a more fair distribution of taxation by expanding the tax basis. 

The benefits will also be of importance to the personnel of this new department. The improved working conditions that will derive from the simplification of the procedures and the modernisation of means, technological and other, will contribute to the effectiveness of their objectives.

Competent committees and a work group have been formed for the implementation of this plan. Discussions between employees of the 2 departments as well as with representatives from non Governmental entities related to the subject are taking place.

The plan’s work group is currently in discussion with a team from the International Monetary Fund, who are providing technical support and know – how.

Discover more: Cyprus to create a single tax authority


Your Taxand contacts for further queries are:
Chris Damianou
T. +357 22 699 222
E. chris.damianou@eurofast.eu

Maria Damianou
T. +357 22 699 222
E. Maria.damianou@eurofast.eu 


Taxand's Take

The final plan for the unification of the 2 departments is expected to be submitted to the cabinet for approval by mid December 2013.

Taxand's Take Author

Chris Damianou