CyprusLiving

I have had a letter from the Cyprus Taxman.

I overpaid tax in 2006 and I am due €138.00. Plus interest @9%
I also overpaid in 2007 but have not yet heard about that.
The letter says the overpayment will be set against future tax owings.
Since then, the threshold was raised to €20,000.00 and I don't earn that much so there is no tax to pay.
So, how do I get my hands on that €138.00 ?
Dilyon

Dilyon

Have you ever known a Cypriot to give you any money back?!

The tax man in Cy has owed me money for last 3 years. I have written it off as even using a private accountant for returns didn't alter their determination to keep my hard earned dosh.

Good luck.

Tony

The Inland Revenue should send you a cheque in the mail.
I have had cheques for overpaid tax in two previous years without problem - and it is fair to say without haste.
Last week I received a registered packet (which I had to collect from the post office) which declared I had underpaid tax by 8 cents!

Don't worry about it, they are giving you 9% interest, you can't get that anywhere else at the moment!!

Many Cypriots have been overpaying their taxes for this specific reason.

If they don't pay you of their on volition, when you need it just visit them.

Sharon.

We have certainly had cheques from them giving overpaid tax back to us.

Trev..

How long after you received the notification did it take to receive the cheque ?

Dilyon

I can't really remember as it was a couple of years ago. But it was maybe about 3 months after we submitted the forms. This reduction Tax was the Defence Levy from 10% to 3%.

Trev..

The Tax Office are working on 2007. It takes about three to four years to get your refund. You do get interest which is far in excess of what you get in the bank so what is the rush?

Slowly Slowly....

Next time use the 138 euros to get a better accountant.