Cyprus Legal Consultants Say All Talk And No Legal Action From Cyprus Government
5:59 pmin Capital Gains Tax, Cyprus Double Taxation Treaty, Cyprus Lawyers, Cyprus Legal Consultants, Cyprus property Tax, Cyprus Tax Evasion, Cyprus Corporate Tax, Cyprus Property Tax, Cyprus Social Security Lawyer3 Comments Off
Legal Consultants in Cyprus – Studies- Tax Evasion- Completed on 24th July 2010. Cyprus Legal Consultants
Tax evasion is the new topic under scrutiny at the moment, as the state of Cyprus is losing millions each year due to various tax evasion antics.
New ways to enforce and combat this problem are under discussion by the government and the Cyprus Inland Revenue and other relevant parties, but seems to be lacking any enthusiasm. And although there are regulations already in place, enforcement is obviously not a priority.
Approximately 50 Million Euros is owed by businesses that have gone in to liquidation and many businesses do not even register with relevant authorities finding it quite easy to avoid the tax man.
There are also a lot of employers who are quite willing to take on employees and not pay their tax, even though this is against the law. The innocent employees who are not aware of this will not only miss out on any state benefits but can also be penalized by the Cyprus Judicial Courts and made to pay any money owed or fines incurred.
Measures may entail the access to a company or individuals bank account. The Inland Revenue want more power giving them the authorization to look at a persons bank account transactions and comparing this with there income or social security.
It is very unfair that the majority of hard working people pay their taxes while others pocket them and still use public services. And like the Title Deed issue this matter has also been neglected over a number of years and is now coming to a head and needs desperate measures.
What we are asking is, even though this matter is under discussion will action ever be taken? And while development is progressing in Cyprus, which the majority of it seems to be coming from the public sector, many issues are still way behind. Which makes us ask the question, what are the government officials getting paid such a high wage for? Maybe that also should come under scrutiny?
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 24TH JULY 2010 http://www.lawcyprus.org/
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