NICOSIA – A father of five has been sentenced to 45 days in prison after pleading guilty for failing to pass on €14, 000 in Value Added Tax (VAT).
The Nicosia District Court heard that the 38-year-old construction company owner’s business started losing money in 2011. Soon after, the defendant let go of most of his staff and started doing odd jobs which paid around €300 per month.
In handing down the sentence Judge Christiana Parpotta said leniency could not be given in the case as the defendant accumulated the debts prior to the economic crisis hitting Cyprus.
The judge ordered the defendant to pay the owed taxes and also ordered his company to pay a fine of €900.