A proposal by five major Cyprus football clubs to settle their mounting tax debts has failed to satisfy government officials, as total arrears reach €35.5 million, including €4.1 million in new debt since May 2023, philenews sources say.
APOEL, Apollon, AEL, Anorthosis, and Ethnikos Achnas proposed a €500,000 upfront payment with commitments to settle additional amounts over three months, but sources say the Finance Ministry considers the offer inadequate.
Finance Minister Makis Keravnos has instructed the Tax Commissioner to treat the clubs like any other tax defaulters, with authorities reportedly preparing criminal proceedings against current and former club officials.
The clubs urgently seek resolution to secure UEFA certification, but the ministry refuses to issue compliance certificates until existing commitments are met.
Cyprus Football Association President George Koumas stated the federation would oversee new payment arrangements, including deductions from UEFA grants for non-compliant clubs.
The tax department may now activate legal provisions, including property liens and bank account freezes, to recover the debt.
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