The Ministry of Finance announces that, on 29 June 2022, the Council of Ministers approved the signing of a Memorandum of Cooperation between the Ministry of Finance (Department of Taxation), the Centre of Excellence for Research and Innovation KOIOS and the Research Organization KOE of the University of Cyprus, for the implementation of Phase I of the modernization project for the issuance of legal invoices and receipts by businesses with direct interface with the Department of Taxation.
The project aims to modernize the infrastructure and the legal framework related to the issuance of legal invoices and receipts, so that there is automatic, real-time interconnection of businesses with the Department of Taxation, both for the purpose of achieving immediate information and to combat tax evasion.
The project, which is included in the Recovery and Resilience Plan (RSP) under the "Ensuring Financial and Fiscal Stability" section, consists of three phases and is expected to be completed by the end of 2024.
(BG)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
