A client had a tax refund of approximately 24 000 euros. CPV Audit team requested a tax refund from the Tax Department.
Unfortunately, the Tax Department denied it, claiming that certain profit and loss items were incorrectly taxed. Following the reject, our team made an appointment in the main Tax Department located in Nicosia to defend our client. On behalf of the client, CPV Audit presented all relevant information to the Head of Tax Department, demonstrating that the client's business activities are compliant with Cyprus Tax Law and that no illegal activity has been committed. The Head persisted in continued arguing. Our tax experts went through 3 further meetings in order to persuade the Tax Department. Finally, the tax commissioner agreed to accept our position with no tax adjustments for the client. The client had been refunded in full.