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Tax payers reminded they must register online.

It is estimated that around half of income-tax payers and the self-employed have not yet registered for the TAXISnet system to submit their annual returns online, which is compulsory from this year, it was reported on Wednesday.

In statements to CNA, Assistant Tax Commissioner Natasa Akkidou said that out of about 300,000 active taxpayers, about 150,000 have not yet registered with TAXISnet.

According to Akkidou, this month, people will be notified via email on how to sign up and should do so as soon as possible after that. The income-statement page on the system will be online as of April, along with deadlines for filing. April is the traditional moth for filing paper tax returns.

The current e-submissions deadline is usually July but as of this year when everyone must file electronically, the deadline might be pushed until September.

Akkidou also said the inland revenue department was working to simplify the procedure and make it more user-friendly. It would also make allowances for those submitting their tax statements online for the first time.

"We will try to have some presentations and seminars, maybe set up some service areas so that members of the public who are worried about it or do not have the means to submit electronically, to be able to do so in these special areas," Akkidou said. More instructions and information campaigns would be announced in due course, she added.

Last June, the House plenum passed into law a bill providing for the obligatory electronic submission.

The law is aimed at makingtaxation, but alsothe taxpayers' service more efficient. The obligatory submission oftaxforms electronically only applies to those whose income istaxable.

It simplifies the procedure for imposing an administrative fine in the event of failure to pay ataxdue, allows thetaxofficer to impose an administrative fine in the event of breach of provisions of the basic law and any regulations.

The new law also stipulates that a person who continues to fail to pay an overduetaxbill two months after the deadline set, must be subject to a 5 per cent surcharge on thetaxdue, in addition to the pecuniary 5 per cent charge of the duetax.

https://tax isnet.mof.gov.cy/displayWelcome.do

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Publication:Cyprus Mail (Cyprus)
Date:Mar 7, 2018
Words:392
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