The submission of the Application for a VAT refund
and detailed statement of data (VAT Form 207)
regarding the Special Farmers status will ONLY be done electronically
through the new TFA – Tax For All computerized system

January 24, 2023 / English Indirect Tax News

The Tax Department informs you that, from the year 2023, the submission of the Application for a VAT refund and detailed statement of data (VAT Form 207) regarding the Special Farmers status will ONLY be done electronically through the new TFA – Tax For All computerized system.

In particular, applications for VAT refund and detailed statement of data concerning the year 2022 will not be sent by post, in paper form, since these will be submitted electronically.

The Tax Department will not receive applications in paper form relating to the year in question.

It is recalled that the date of submission of applications for the year 2022 is from 01/03 – 30/04/2023.

It is noted that the Tax Department, in its previous campaigns, informed the registered persons, in the Special Status of VAT Farmers, about the impending change and invited them to update their details.

When access to the new system will be available, the affected persons will be informed by electronic message which will be sent to the electronic address (email) they declared, giving more information and instructions.

Department of Taxation January 24, 2023

Neoklis Epaminondou

Managing Director and Founder

Neoklis is the Managing Director and Founder of Epaminondou & Co Audit Services Ltd and Arlon Consultancy Ltd, bringing over two decades of experience in accounting, tax advisory, business consultancy, and relocation services. He is a licensed Audit Practitioner, an Approved Compliance Officer, a Payroll Specialist, and an ADIT student. Neoklis is renowned for delivering high-quality tax advisory services, alongside expert business analysis, risk assessment, and business relocation solutions.

In his advisory role, Neoklis has been instrumental in structuring M&A deals, conducting financial due diligence, preparing tax memos, and managing complex tax reporting for both local and international clients. He has also played a key role in assisting businesses with their relocation to Cyprus, leveraging the country’s attractive tax incentives as one of Europe’s leading business hubs.

Neoklis is a Fellow Chartered Certified Accountant (FCCA) and holds a Master’s in Finance and Investments from the University of Exeter. He is an active member of the Association of Chartered Certified Accountants (ACCA) and the Institute of Certified Public Accountants of Cyprus (ICPAC). Additionally, Neoklis is an honorary member of the Cyprus Payroll Association, an approved mediator, and an educational trainer. Recently, he obtained the Approved Compliance Officer Certificate (AML) from AICA and successfully passed the Cyprus tax paper as part of the ADIT Qualification.