Indirect Tax Update
The Tax Department announced on 17 January 2023 the commencement of the gradual implementation of the new Single Tax Administration Portal - Tax For All -TFA, which will replace the TAXISnet platform. During its first stage of implementation, TFA shall only be applicable for all VAT registered persons.
By February 23, 2023, VAT registered persons are urged to update their Taxisnet login credentials, proceeding with the following actions (where necessary):
- Update the electronic address (email) initially declared upon registration with the TAXISnet system
- Amend the username currently in use upon accessing the TAXISnet system
Update of e-mail address
VAT registered persons should immediately update their electronic address (e-mail), via the TAXISnet website, the validity of which is a necessary element for the transmission of their account from the Taxisnet system to the new TFA system.
Changing the e-mail address can be done by following the instructions posted on the Tax Department’s website at www.mof.gov.cy/tax under:
e-Services → TAXISnet → Informative Material → Value Added Tax (VAT) Procedure for updating email address at the TAXISnet system.
Update of username
Existing Users must promptly ensure that the username for logging in their TAXISnet VAT account comprises of 5 to 25 characters so as to meet the new requirements set for TFA purposes. Therefore, existing usernames shall not need to be amended if they meet the newly set criteria.
Changing the username can be done only via logging in the TAXISnet VAT account and completing the following procedure:
My account → User Access Codes → Username update → New Username → Update
How can KPMG assist?
Should you need further assistance with regards to the new Single Tax Administration Portal, please contact one of our trusted advisors from the Indirect Tax Department at KPMG Cyprus.
KPMG’s Indirect Tax team provides advice and assistance at the Cyprus and international level. We structure our effort to dovetail with your business issues and strategy. Our focus is on supplying value adding and pragmatic advice rather than just a list of recommendations.
Our tax professionals are able to review your company’s current tax position and provide relevant advice and planning on a range of indirect taxes, including VAT, customs duties and excise taxes (such as tax audits, reorganizations and acquisitions, etc.). Furthermore, we can help your company with its administrative obligations and contacts with administrative bodies