A lawsuit process between the state and T&T Airport Operation Company Ltd concerning unpaid VAT, has recently been concluded.
The TRNC government signed an agreement with T&T Company in December 2012, to transfer operating rights for Ercan airport to T&T for a period of 25 years. According to Yeni Duzen, T&T paid the contract price of 100 million euros, however it failed to pay the VAT which amounted to 16 million euro.
Since 2012 a lawsuit has been in process to acquire the VAT. Recently the court decided that T&T should pay the state 18 million euro.
Minister of Finance, Birikim Ozgur confirmed the court’s decision and said that as soon as this money is transferred to his ministry, the state will be able to pay the 13th month salaries.