Cyprus: Extension of the Procedure for the Settlement of Overdue Tax Liabilities - Cyprus Profile

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Articles | 17 July 2018 | EY Cyprus

Cyprus: Extension of the Procedure for the Settlement of Overdue Tax Liabilities

Further to our prior Tax Newsletter issued in January 2018 relating to the new Law (L.4(I)/2017) (“Law”) for the settlement of overdue taxes, we would like to inform you that the Cyprus House of Representatives has voted for an amendment to this Law which effectively provides for a further extension to the period during which an application for the settlement of overdue tax liabilities can be made.

More specifically, as per the amending Law, the period during which taxpayers will be entitled to apply through the Ariadne Governmental Portal for the settlement of their Overdue Tax Liabilities has been extended by 6 months (i.e. a total of 18 months as of the date that the new Law has entered into force – 3 June 2017 to 3 January 2019).

As such, taxpayers will be entitled to apply for the settlement of their overdue taxes on the proviso that by 31 December 2018 relevant conditions as set out in the Law are satisfied.

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