Cyprus Tightens Tax Control: 513 Major Debtors Identified
The Cypriot tax authority has identified 513 major debtors who have avoided inspections for years and accumulated debts totaling 44.1 million euros in direct taxes and value-added tax. From July, tax auditors will conduct surprise inspections in tourism areas and use new powers to temporarily close businesses if companies do not issue receipts and invoices or have more than 20,000 euros in tax debt.