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[PIO] Announcement of the Department of Taxation for exemption from the payment of a fee for a Central Entity for Equal Burden Sharing

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According to the Central Body for Equal Weight Sharing (Establishment, Purposes, Powers and Other Related Matters) (Amendment) Law, L. 1(I)/2024, published in the First Schedule of the Official Gazette dated 26 January 2024, no fee shall be levied from 22 February 2021 in cases of transfer of real property or shares in a company in the context of loan restructuring, on the amount of the sale price or appraised value, as the case may be, used to reduce or repay non-performing loans.

Persons for whom a fee liability has been created and who fall within the above provisions of the legislation are invited to submit a written objection.

The relevant form is "Objection to Payment of Fee (Amount 0.4%) for Central Equal Burden Sharing Entity" (Form T.F.15 CFIB) 2024 which is available on the website of the Department of Taxation, section Direct Taxation - Forms - Capital Gains. The objection may be filed at the local District Offices of the Department of Taxation or sent by email to dmd@tax.mof.gov.cy .

The deadline for filing objections, on any ground relating to the payment of a Central Equal Weight Sharing Agency fee, is extended to June 30, 2024.

The date for payment of the relevant Fee, without penalty or interest, is also extended to June 30, 2024.

(EAT/NZ)
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Views & opinions expressed are those of the author and/or PIO

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