Cyprus has so far collected 1.3 million euros in relation to the Lagarde list, which includes companies that are accused of tax evasion, Finance Minister Harris Georgiades told the Parliamentary Committee on Public Expenditure Control on Thursday.
Replying to MP’s questions on the subject, Georgiades said that the effort of the tax department is continuing, adding that “an amount of €1.3 million has been collected in relation to Lagarde list.”
The amount was confirmed later by Tax Commissioner Yiannis Tsagaris who said, speaking at the Parliamentary Committee, that the Department is monitoring three cases from the 490 high-risk profiles identified in Lagarde list. Tsagaris also said that while there was no need to carry out checks for the existence of accounts abroad until now, this is now possible with the access to the Common Reporting Standard system.
Tsagaris also said that the Department in now at the final stage with 52 profiles and that for 40 profiles it is simply a matter of sending final letters.
He estimated that around two or three cases will finally go to the Attorney General to examine whether there should be criminal sanctions. For the rest of the cases, he said, they are negotiating the final amount. He also said that the outstanding amount to be collected, according to the assessments of the Department is about €24 million.
Source: CNA
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