Lagarde list scrutinised
The Tax Department will thoroughly investigate the income of all Cyprus residents on the Lagarde list, going as far back as 2003.
The Department will look into their income after 2006, to determine whether they met their tax obligations up to date.
Chief tax inspector Klelia Papadopoulou told Phileleftheros daily that the law allows the Department to proceed with investigating the income of a taxpayer up to 12 years after the period under investigation,
“We will also look at the income of those persons from 2006 to date. Depending on the findings, we may impose additional taxes on the remaining years,” Papadopoulou said.
The Department will request information from tax authorities abroad, taking advantage of tax information exchange agreements that Cyprus has signed with third countries.
Papadopoulou clarified that it would be premature to talk of criminal prosecutions of any person or legal entity on the List Lagarde.
Once all data is examined, where criminal offences may arise, the cases will be referred to the Attorney General, she said.
Cases already examined have been sent details of taxes due, “those who object should provide evidence to justify the source of their income” and proof that it is should not be taxable in Cyprus.
