The law firm of G. Vrikis & Associates LLC would like to inform you that in accordance with the Decree issued by the Council of Ministers regarding the imposition of a fee for the issuance of a tax ruling in late April 2016, the Tax Authorities have now announced further details in relation to the practical application of the Decree.
As per the announcement of the Cyprus Tax Authorities, for the issuance of a tax ruling by the Commissioner of Taxation, a fee of €1.000 will be payable to the Tax Authorities by the taxpayer. In case a request is made for expedited processing of the Tax Ruling request, then the fee increases to €2.000. In such case, the Tax Authorities have committed to issue the ruling within 21 working days from the date of submitting the request.
Lastly, it is important to note that the Cyprus Tax Authorities have specified that the fee will only be payable through www.jccsmart.com . A copy of the payment receipt (which shall be issued and printed from the abovementioned webpage) should be submitted to the Tax Authorities together with the Tax Ruling request.
The above fees and procedure will apply to tax ruling requests which will be submitted to the Cyprus Tax Authorities from 16 May 2016 onwards.