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03 June 2016
In October 2015 the Tax Department introduced a new formal procedure for obtaining advance tax rulings.(1) The government recently issued a statutory order under Article 44 of the Income Tax Law setting the fee for obtaining advance rulings at €1,000.(2) The taxpayer may request an expedited ruling, guaranteeing a response in 21 working days, provided that all the necessary information is supplied. In this case the fee is €2,000.
For further information on this topic please contact Philippos Aristotelous at Andreas Neocleous & Co LLC by telephone (+357 25 110 000) or email (firstname.lastname@example.org). The Andreas Neocleous & Co LLC website can be accessed at www.neocleous.com.
(1) Further details of the procedure can be found here.
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