VAT legislative amendments –Tools in the fight against VAT fraud and non-compliance

There is almost a universal agreement that legislative changes to tax collection and reporting constitutes a powerful measure to tackle tax fraud and non-compliance. Consistent with this approach, the Cyprus Parliament has enacted on 31 July 2020 some important amendments to the Value Added Tax Law (L.95(I)/2000) aiming to tackle VAT fraud and improve tax collection. Key amendments include: ..

Source: EY Cyprus