Cyprus: The Cabinet of Cyprus passes Bill for the formation of Unified Single Tax Authority
International Tax Review is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cyprus: The Cabinet of Cyprus passes Bill for the formation of Unified Single Tax Authority



Antonis Michaelides

Michalis Zambartas

On April 23 2014 the Cabinet of Cyprus passed a Bill providing for the establishment of a unified single tax authority which will deal with all tax issues in the country. This new unified body will essentially absorb the powers of the Cyprus Income Tax Authority and the Cyprus VAT Authority while these two bodies will be abolished. Having done so, the Bill has been referred to the Parliament for approval and therefore it is expected to be examined in the first week of June 2014.

According to the acting Cyprus government spokesman, the Bill provides, inter alia, for the abolishment of the two directorship positions in the two fiscal bodies (Income Tax Authority and VAT Authority) and the appointment of a single tax official along with two assistant tax officials.

The government believes that such unification will highly contribute to a more efficient customer service which will have a positive impact on the country's revenues mainly due to the more organised and rigorous scrutiny not only of the taxpayers but also of the employees.

It is further anticipated that the unification, along with the reinforcement of the relevant legal framework, the simplification of the proceedings and the modernisation of the information systems will certainly contribute to the expedient handling of the authority's obligations as well as to the enhancing of tax awareness of the taxpayers.

Finally, it should be highlighted that this movement has been part of the government's commitments towards TROIKA and the international lenders. In any case, the proposed reshuffle is following the trend in almost all the EU countries and it is undoubtedly something that should have been done ages ago. In consideration with the above, it is anticipated that the Bill will pass relatively easily by the Cypriot parliament and that the new legislation is almost on the doorsteps.

Antonis Michaelides ( and Michalis Zambartas (

Eurofast, Cyprus Office

Tel : +357 22 699 222

Website :

more across site & bottom lb ros

More from across our site

KPMG has exclusive access to the tool for three years in the UK, giving it an edge over ‘big four’ rivals
But the US tax agency’s advice is consistent with OECD guidance and shouldn’t surprise anyone, other experts tell ITR
A survey of more than 25,000 in-house counsel reveals that diversity initiatives are a high priority when choosing external counsel
The report is aimed at helping 'low-capacity countries', the OECD has claimed
The UK tax agency appears to be going after easier, lower value targets, one lawyer has claimed
Criminal experts have told ITR that the case of Ulf Johannemann emphasises the fine line between tax avoidance and tax evasion
The ATO workers were among nearly 57,000 people who were duped into claiming fake GST refunds, while Kuwait signed a double taxation treaty with the UAE
However, ICAP may not provide the legal certainty of an APA and tax authorities will have limited capacity, experts argue
ITR+ has launched the Talent Tracker, an interactive database that collates reported partner moves across the legal tax market
The tool is available to more than 2,000 PwC tax professionals and is designed to boost client service
Gift this article