President of the Cyprus-Greece Business Association Iosif Iosif recently highlighted the importance of robust business cooperation between the two countries, according to an announcement released on Tuesday.
Speaking at an event organised by the European Public Law Organisation (EPLO), the Cyprus Chamber of Commerce and Industry (KEBE), and the Cyprus-Greece Business Association, which focused on the tax framework between Cyprus and Greece, Iosif stated that just as in other areas, there can be further collaboration between the two countries in taxation.
“Especially now that Cyprus is preparing for its own tax reform, it can benefit from the expertise of Greece, which has made significant progress in simplifying and modernising its tax legislation and practices,” the association president said.
Moreover, in his address, Iosif also referred to the planned activities of the association for the remainder of 2023.
He mentioned that there will be a visit by the Ministers of Finance and Development of Greece, who will be visiting Cyprus to inform the business community about Greece’s new investment environment.
Additionally, an intergovernmental trade exhibition will be organised, followed by a conference on the economies of both countries.
Cyprus’ government employment decreased by 1,472 people in May 2023, a drop of 2.7 per cent when compared to the corresponding month of 2022, reaching a total of 52,196 people, according to a report released this week by the state’s statistical service.
The decrease has been mainly attributed to the transfer of Hourly Paid Personnel from the Ministry of Health to the State Health Services Organisation, which is included in the Broad Public Sector, starting from January 2023.
It is worth noting that there was a decrease of 756 people, a drop of 2.9 per cent, in permanent personnel, which fell from 26,003 to 25,247 people.
In addition, while there was an increase of 928 people, a rise of 4.8 per cent, in temporary personnel, which reached 20,179, compared to 19,251 people in May 2022.
Furthermore, the announcement stated that there was a decrease in all categories of permanent personnel, while there was an increase in all categories of temporary personnel.
The most significant changes were observed in permanent personnel of the Public and Education Service, a drop of 3 per cent, as well as in temporary personnel of the Public Service, which rose by 6.3 per cent. Similarly, Hourly Paid Personnel marked a decrease of 19.5 per cent.
Compared to April 2023, the main changes were related to temporary personnel of the Education Service, with a decrease of 5.3 per cent, and temporary personnel of the Public Service, with an increase of 1.4 per cent.
The Cyprus Stock Exchange (CSE) ended Tuesday, June 13 with profits.
The general Cyprus Stock Market Index was at 117.34 points at 12:30 during the day, reflecting an increase of 0.84 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 71.00 points, representing a rise of 0.85 per cent.
The total value of transactions came up to €113,778.
In terms of the sub-indexes, the main index rose by 1.11 per cent, while the alternative index fell by 0.27 per cent. The hotel and investment firm indexes remained stable.
The biggest investment interest was attracted by the Bank of Cyprus (+1.35 per cent), Hellenic Bank (+2.12 per cent), Logicom (no change), Salamis Tours (+1.65 per cent), and Demetra (no change).
