The Board of Directors of the Pancypriot Bar Association, in a letter to the Minister of Finance and the Commissioner of Taxation, expressed its strong opposition to the circular that requires purchase and sale documents to be certified for the calculation of Capital Gains Tax and requested that the said “illegal circular” be canceled immediately.
The Association, after stating that in the last few days it has received completely justified complaints about the relevant circular, adds that it is not based on a legislative or regulatory framework or an act, which provides a legal basis for the issuance of such a circular.
No law or regulation requires the certification of agreements for them to be valid, nor is it legal for the competent Ministry to require such certification for its own purposes, adds the Association.
Source: KYPE