Recourse before the Tax Tribunal

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Our Litigation Department filed a recourse before the Tax Tribunal against the decision of the Tax Department by which it refused to return to the Applicant the VAT related to the purchase of immovable property which was acquired by the Applicant with the intention to be included within its commercial activity. Even though the conditions to return the VAT had been complied with, the Tax Authorities nevertheless refused to return the VAT to the Applicant on the basis that the said immovable property was related to the Cyprus Investment Programme.