Cyprus: Compliance campaign for stamp tax liability
Tax department intends to carry out control campaigns for the correct application of the legislation
Tax department intends to carry out control campaigns
The Cyprus Tax Department issued a reminder that—according to the stamps law (Law 19/1963)—any document included in the first schedule of the law related to property located in Cyprus or to things to be executed or done in the Cyprus is subject to stamp duty (tax), regardless of the place where the document was prepared.
According to checks, data, and information available to the tax department, non-compliance with the obligation to pay the stamp tax has been established. Therefore, the tax department intends to carry out control campaigns for the correct application of the legislation, starting with the control of contracts for the execution of building or technical works by contractors.
Read a March 2024 report prepared by the KPMG member firm in Cyprus
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