Effective 22 September 2026, the Cyprus Tax Department mandated that all requests for registration or modification of IBAN details for tax refunds and payments must be submitted exclusively through the Tax For All digital portal. This measure aims to enhance security, reduce fraud, and accelerate refund processing. Previously, IBAN changes could be requested via paper forms or in-person at tax offices. The new requirement applies to all taxpayers, including individuals, corporations, and partnerships. The department provided a step-by-step guide on the portal and set a transition period ending 31 December 2026 for legacy IBANs to be re-validated.
Key Takeaways
- Mandatory Digital Submission: All IBAN registrations, changes, and cancellations must be completed via the Tax For All platform (taxforall.mof.gov.cy). Paper submissions will be rejected after the transition period. Taxpayers must authenticate using their TAXISnet credentials or digital ID.
- Validation and Verification: The system performs real-time validation of IBAN format, bank ownership, and beneficiary name matching. Mismatches will trigger a manual review, delaying refunds by up to 30 business days. Taxpayers are advised to ensure the IBAN matches the legal entity name exactly.
- Refund Processing Acceleration: The department expects refund processing time to decrease from 60 to 15 business days for validated IBANs. Taxpayers with pending refunds should update their IBAN immediately to avoid delays. The portal provides real-time status tracking of refund requests.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement