The Cyprus Institute of Certified Public Accountants (Selk) has reiterated its stance on the importance of a robust and well-structured tax system that supports sustainable economic growth and secures social justice by strengthening incentives for entrepreneurship and development.

The organisation expressed this position during a meeting with Akel leader Stefanos Stefanou, as part of its ongoing dialogue with parliamentary parties.

According to a statement issued by Selk, the meeting served as a “constructive opportunity for exchanging views and forming joint conclusions regarding improvements to the country’s tax system”.

The discussion focused on tax reform and other pressing issues concerning the Cypriot economy.

Selk mentioned that the meeting marked the beginning of a more “systematic and structured collaboration” between the organisation and Akel on matters related to the economy and the social well-being of Cyprus.

In the same statement, Selk said that Akel secretary general Stefanos Stefanou reaffirmed his party’s commitment to tax reform, with particular emphasis on supporting middle and lower-income groups.

Stefanou also highlighted the need to “strengthen tax fairness and intensify efforts to combat tax evasion“.