Income tax penalties adjusted in these trying times.
A shift in income tax regulations is ‘a blessing in disguise’, says DISY’s Averof Neophytou.
The law stipulates that all interests and penalties owed to the Inland Revenue Department up until the end of 2008 be scrapped and replaced with a 5.0 per cent interest rate on the amount owed, provided the full amount is settled by the end of March 2012. Read more about Cyprus Tax Debts Law
Meridian Trust
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