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Friday, March 24, 2023

980 large fish were “bitten”

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In the midst of the coronavirus pandemic, the Office of Large Taxpayers, of the Tax Department, located 980 large taxpayers who did not comply with their obligations under the law and imposed taxes worth € 81.5 million.

Specifically, 397 large taxpayers with debts to Income Tax were caught in the grip of the Tax, to whom a direct tax of € 78.3 million was imposed (income tax, capital gains tax and extraordinary defense contribution).

At the same time, another 538 large taxpayers with VAT debts were identified, who were forced to pay a total of € 3.2 million.

However, compared to 2019, the taxes imposed after the audit were much reduced. The direct tax imposed was reduced by 77.7% and VAT by 75.5%. Specifically, in 2019, 378 taxpayers were imposed direct tax of € 350.7 million and 461 taxpayers of VAT amounting to € 13.2 million.

In the meantime, last year the Tax Department, in the context of tax compliance campaigns, may have “uncovered” a larger number of tax fraud cases, however the amount of taxes confirmed was much smaller than in 2019.

Specifically, in 2020, the provincial offices of the Department and the Office of Large Taxpayers investigated 52 cases of tax fraud. During the audits, taxes of € 1.7 million were confirmed. In addition, in 2019, 50 cases of tax fraud were identified and taxes of € 36.5 million were confirmed, while in 2018, 35 cases of tax fraud were identified and taxes of € 951 thousand were confirmed.


Source: 24h.com.cy

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