On 7 July 2017, the Cyprus Tax Department published a notice announcing the entry into force of the law on the procedures for the program for settling outstanding tax debts. The procedures apply for outstanding tax debts up to 31 December 2015, provided that all returns due up to that date have been filed and any taxes due after that date have been paid or arranged to be paid. The new procedures apply from 3 July 2017, but during the first two weeks, only single lump sum payments will be accepted, in which case a 95% reduction of additional financial...