overdue taxes – N. Constantinou & Co Audit Ltd | Cyprus Audit, Tax, Company incorporation, Consulting https://www.nconstantinou.com Cyprus Audit, Tax, Company incorporation, Consulting, Accounting Wed, 03 Jan 2018 13:34:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 https://www.nconstantinou.com/wp-content/uploads/2020/01/cropped-Logo-32x32.jpg overdue taxes – N. Constantinou & Co Audit Ltd | Cyprus Audit, Tax, Company incorporation, Consulting https://www.nconstantinou.com 32 32 Amendment to the Law regulating the settlement of overdue taxes https://www.nconstantinou.com/amendment-to-the-law-regulating-the-settlement-of-overdue-taxes/ Wed, 03 Jan 2018 13:34:58 +0000 http://www.nconstantinou.com/?p=806 The House of Representatives has voted an amendment to the Law regulating the settlement of overdue taxes, effective from 13 November 2017.

The amendment provides as follows:

  • Where the total tax due does not exceed €500, an amount of €100 to be written off, and
  • Where the total tax due does not exceed €100, the whole amount to be written off.

The eligible taxpayers (individuals and companies) are not required to submit an application for the write-off as the write-off will be applied automatically by the Tax Department and inform the taxpayers accordingly.

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