Consulting and advisory firm PwC Cyprus on Thursday announced that it has published its new tax guide for 2025.

“The guide serves as an important source of information on all tax-related matters in Cyprus and is available as of January 1, 2025, on the organisation’s website only in English,” the company said.

The guide, the company mentioned, “includes valuable insights for both individuals and businesses, assisting them in planning and meeting their tax compliance obligations”.

“The tax guide serves as an essential reference point for current taxpayers residing in Cyprus, as well as for prospective international investors who may consider relocating or establishing their business base in Cyprus,” said Stelios Violaris, partner of tax advisory services at PwC Cyprus.

Sir Stelios Haji-Ioannou, founder of the easyGroup and the Stelios Philanthropic Foundation, on Thursday announced the launch of the 15th annual Stelios Bicommunal Business Cooperation Awards.

This year, the initiative will distribute €410,000 in prizes to twenty Greek Cypriot and Turkish Cypriot entrepreneurs who demonstrate successful collaboration between the island’s communities.

“Economic cooperation between the two communities in Cyprus is fundamental for building mutual understanding and trust, ultimately contributing to lasting peace on the island,” Sir Stelios stated.

“We remain committed to supporting joint initiatives and creating opportunities for new collaborations that promote social and economic development in Cyprus,” Sir Stelios added.

The utilisation of liquefied natural gas (LNG) brought onshore at Vasiliko could reduce electricity bills by as much as 35 or 40 per cent, energy expert Dr Charles Ellinas said on Thursday.

Speaking to the Cyprus News Agency, he said the process of setting up the LNG terminal at Vasiliko “must be accelerated as quickly as possible”, and, if possible, by the end of the year.

However, he expressed doubt over whether this will be possible.

“For Cyprus, it is something very important. If it comes by 2026, the price of electricity may be reduced by between 35 per cent and 40 per cent. Therefore, everything we can do must be done, because this project is completely in our hands and it does not depend on others,” he said.

The Cyprus Chamber of Commerce & Industry (Keve) on Thursday released a statement congratulating Thomas Kazakos, the director general of the Cyprus Shipping Chamber (CSC), on his appointment as secretary-general of the International Chamber of Shipping (ICS).

The appointment was originally announced on December 18, 2024, with Kazakos’ term coming into effect on April 1, 2025.

“Kazakos’ appointment to this prestigious position is a distinguished achievement for both him personally and for the entire Cypriot shipping community,” said the chamber in its announcement.

“The appointment of one of our own to this role, succeeding the outgoing secretary-general Guy Platten, recognises his significant work and long-standing contribution to international shipping,” it added.

The consumer price index (CPI) in Cyprus closed 2024 with a year-on-year increase of 1.8 per cent, while inflation saw a rise in December, according to a report from the state’s statistical service.

For the period of January to December 2024, the CPI recorded a 1.8 per cent increase compared to the same period in 2023.

December’s CPI rose by 0.10 points, reaching 118.31 points from 118.21 in November 2024, marking a 2.6 per cent inflation rate for the month.

The Cyprus Employers and Industrialists Federation (Oev) has issued a call for applications for its members to participate in a business conference and B2B meetings set to take place in Cairo.

Organised as part of the trilateral summit between Cyprus, Greece, and Egypt, and the Cyprus-Egypt intergovernmental summit, the event is scheduled for January 8.

Oev informed its members about the “Egyptian-Cypriot-Greek Business Conference & B2B” in a statement, emphasising the significance of the event within the framework of the upcoming diplomatic summits.

The Cyprus Stock Exchange (CSE) ended Thursday, January 02, with gains.

The general Cyprus Stock Market Index stood at 215.63 points at 12:31, reflecting a rise of 0.12 per cent.

The FTSE / CySE 20 Index was at 131.08 points, representing an increase of 0.12 per cent.

The total value of transactions came up to €51,731, until the aforementioned time during trading.

In terms of the sub-indexes, the main and alternative indexes rose by 0.1 per cent and 0.21 per cent respectively. The investment firm index fell by 0.57 per cent while the hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (+0.87 per cent), Salamis Tours (no change), Demetra (-0.58 per cent), Atlantic Insurance (no change), and Vassiliko Cement Works Public Company (no change).