A new innovative platform -Tax For All- (TAF) is underway, by the Tax Department of Cyprus to replace TaxisNet, Tax Portal and other smaller systems. TAF will provide taxpayers and agents with real-time information and a more direct approach of their tax affairs.
Agents can be appointed electronically through the TFA by the Taxpayers.
TAF will be implemented in 3 stages:
- Stage 1 will affect the VAT (Value Added Tax) and it is expected to launch at the end of the 1st quarter of 2023. In detail, through the TFA the taxpayer and the agents will be able to submit the VAT Return form, issuance certificates (such as Tax Clearance – VAT only, Registered Certificate VAT, Deregistered certificate from the VAT), online payments and payment history, request online for a refund, extract a statement of account, online return’s details, and tracking message system.
- Stages 2 and 3 are expected to go live simultaneously at the 4th quarter of 2024
Instructions, by the Tax department, will be sent to all the registered emails in their database.
Also, short duration ‘How to’ videos will be featured in Greek and English, to further help all the Taxpayers and make this transition as smooth as possible.
What is more, the Tax Department is in communication with all the accounting software (providers/developing) companies to ensure they will proceed with all the necessary updates and adjustments to their software and inform their clients.
Lastly, small, and medium enterprises are eligible for funding to upgrade their current software.
For additional information or assistance by our local advisors please contact Mr. Nikolaos Lioufis, Invoicing & Collection Manager, at our Eurofast office in Cyprus at email@example.com
Eurofast is a regional business advisory organization employing local advisors in over 21 cities in South East Europe & the Middle East (SEEME). The Organization is uniquely positioned as a one-stop-shop for investors and companies looking for professional services in Tax & Transfer Pricing – Payroll & Employment – Accounting & Compliance – Advisory & Corporate.
Invoicing & Collection Manager