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The hopes that the Tax will bite “fish” are limited

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We need to keep a small basket for the effectiveness of the investigations carried out by the Tax Department on 250 service providers related to the naturalization program. The reservations, to excuses, that were heard yesterday at the meeting of the parliamentary Audit Committee by the Tax Officer Giannis Tsagaris, did not reassure the MPs, who, on the contrary, in some cases did not hide their dissatisfaction with the procedure followed.

The commissioner informed the deputies that 60 big developers have been left out of control, as the process started with 10 small land development companies, about 3 in each province. Mr. Tsagaris' reports provoked the reaction of AKEL MP Irini Charalambidou, who stated that “we have heard that audits are being carried out, but they are not being conducted in such a way as to show who are the ones who have speculated and the investigation has not yet touched the big developers ».

SEE ALSO: 80 service providers investigated – What are the findings

The Tax Officer stated that the research has not yet been extended to large land development entrepreneurs, because … a 1987 circular allows companies not to pay tax if they do not reach 90% of the completion of a project! “The towers in Limassol are finished”, Mrs. Charalambidou countered, “the properties have been delivered and the commissions have been paid” …

Mr. Tsagaris told the deputies that the Tax Department knows how these companies work and added that the largest of them had offices abroad “and most of the commissions paid by the older ones are in offices abroad”. He stressed that the Tax Department works within the framework of the powers provided to it by law and that it can not “block” or open the accounts of anyone, if it does not have decrees to do so.


Source: www.philenews.com

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