Parliament expands powers of the Anti-Corruption Authority

The Cypriot Parliament has approved legislative proposals submitted by MP Irini Charalambidou, expanding the responsibilities of the Independent Authority Against Corruption. Under the new legislation, the Authority is now mandated to notify the Tax Commissioner if an investigation identifies public officials or state employees involved in potential corruption offenses. This process involves the Authority submitting a formal report detailing its findings to the Tax Department. Furthermore, the Income Tax Law has been amended to empower the Tax Commissioner to initiate tax audits against the individuals named in such reports. The stated objective is to address cases involving the concealment of income or assets that cannot be justified by official financial data. The legislation was amended during the process to clarify that the Tax Commissioner must receive a formal report from the Authority before launching an audit. This regulatory change aims to enhance transparency and provide better tools for investigating illicit enrichment.