European Commission to investigate tax evasion in Cyprus

By in

The EU is sponsoring the research and will prepare recommendations on the fight against tax evasion in Cyprus. To this end, tax specialists arrived in Cyprus who will carry out studies and investigations, making recommendations based on the findings. They will be conducted using EU funded initiatives. Currently, Cyprus is a booming ‘grey’ economy. (Grey economy refers to the informal sector of an economy that is neither taxed, nor monitored by any form of government).