The 88 cases of individuals in Cyprus` ‘Lagarde List’, who owe taxes to the state for 2003, are going to be classified by the end of the week according to the risk posed for state revenues, reliable sources have told CNA. The categorization will allow the competent authorities to decide the degree of investigation needed for each one of them.
The 88 individuals have submitted objections for the total amount of €38,40 million which it is believed they owe to the state, in income tax and special defense contribution.
The possibility of prosecution for some of the 88 individuals would probably be decided next week. On Monday the competent authorities will examine the cases of other individuals as well as the cases of the 116 legal persons in the ‘Lagarde List’ who had deposits in the Swiss bank HSBC in the period after 2003.
Regarding the “Panama Papers”, the Tax Department will decide in consultation with the Ministry of Finance the official way to request the documents from their source.
According to CNA sources, the Department has appoint two officers to begin preliminary online research in order to identify any elements that would be of interest to the Tax Department.