Settlement of tax arrears under the Process of Adjustment of Tax Arrears Law of 2017

The Cyprus Tax Department has issued a further reminder to submit applications for settlement of arrears of tax by instalments under the Process of Adjustment of Tax Arrears Law of 2017 (Law 4(I)/2017). The law took effect on 21 July and taxpayers must submit their application for arrears to be dealt with under the law within three months of that date. Claims must be submitted through the government “Ariadne” Internet portal and will only be accepted if all tax returns have been submitted and no taxes are outstanding in respect of periods after 31 December 2015.