Cyprus Tax Department initiates audits on media figures and social media influencers

The Cyprus Tax Department has launched targeted audits on television personalities, media workers, and social media influencers. These investigations focus on verifying tax declarations against payments received for promotional services on platforms such as Instagram, Facebook, TikTok, and YouTube. Officials are examining both monetary compensation and payments in kind. Additionally, the department is auditing luxury wedding expenses to uncover potential unreported income. These measures are part of a broader tax reform intended to enhance tax justice and compliance. New enforcement tools include mandatory tax declarations for individuals aged 25 to 70, the authority to review bank accounts and interest earnings, and a requirement for rental payments to be processed electronically starting in 2026. Furthermore, authorities may now seal businesses for serious violations and freeze corporate shares for tax debts exceeding 100,000 euros.