Cyprus Business News
There is a mandatory tax return for everyone 1
Measures to enhance the state’s tax-collecting capacity are being promoted by the Government to tackle tax evasion. Already, it has prepared related bills before the Legal Service for legal review.
Among the measures are:
– It will be mandatory for all taxpayers to file a tax return. The submission of the self-employed and self-employed declaration will continue to be done electronically. Finance Minister Haris Georgiadis said taxpayers would thus get a complete picture of the entire population. “It does not mean that there will be a tax burden for our fellow citizens who do not have the corresponding income, but there will be a picture and increased control,” he added.
– All businesses and providers of services and products will be required to install a dedicated terminal through which they will accept credit cards. However, consumers will also be able to pay in cash if they so wish.
– In addition, under the microscope of the Government is the green tax reform. Although the finance ministry agrees, the measure is still under study, so it has not been included in the 2020 budget. reduction in employee taxation. Specifically, the money the state receives for those who pollute the environment will be passed on to workers through tax breaks.
Speaking to F, the finance minister said the ministry was positive in principle, but no final decision has been made so far. For his part, Secretary-General of the TEC, Andreas Matsas, said that the bases have been laid and the conditions are created for tax relief through pollution taxation.

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