Improving the state’s tax collection capability remains a major priority for the Ministry of Finance, which continues to advance measures in this direction.
According to the Ministry of Finance’s annual report for 2023, recently posted on its website, a series of measures are being implemented to prevent revenue losses to the state.
Specifically, as of the end of 2023, the direct taxation registry included 991,108 active taxpayer files, while the indirect taxation registry had 101,717 active taxpayers.
The direct taxation base saw an increase of 44,591 taxpayers compared to 2022, mainly from new registrations of employees and legal entities. The indirect taxation registry at the end of 2023 showed an increase of 4,738 compared to 2022, primarily due to registrations of legal entities.
Additionally, during 2023, a total of 89,200 taxes were imposed on individuals (74,500) and companies (14,700), with payable income tax amounting to €46.9 million and refundable income tax reaching €9.0 million, excluding interest. In addition to these amounts, taxes were imposed for Special Defense Contribution and Special Contribution for Employees.
Mass imposition of taxes
Continuing the effort to clear backlog, automated mass tax assessments for the tax years 2015-2020 for legal entities and 2018-2020 for individuals were carried out.
The Limassol Tax Department continues its examinations.
