On 27 January 2017 the Cyprus Parliament approved a new law which sets the procedure for settling overdue taxes, including interest and/or penalties arising thereon. The Cyprus government gazetted notification no. 200/2017 on this subject on 23 June 2017 and the Cyprus Tax Authorities issued an announcement on 28 June 2017.
The notification specifies that the Law will come into force on 3 July 2017.
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