Neophytou submits household tax relief proposal

Disy leader and presidential candidate Averof Neophytou on Saturday presented his proposal for a new measure that seeks to provide tax relief to families by taking into account their income as a whole, rather than individually.

“This proposal, combined with support measures for a dignified living for all our fellow citizens, reduces social inequalities, hits back against low birth rates and supports the backbone of the economy, the middle class,” campaign press officer Demetris Demetriou said.

According to the proposal, in a household where one parent is earning €26,000 and the other parent is earning €20,000, with two children in the house, the current household tax amounts to €1,400.

“With the tax reform proposal taking into account the combined family income, the tax will go down to zero,” Demetriou said.

“Only Averof Neophytou can submit such a proposal, fully costed, and be able to implement it,” he added.

Meanwhile, Georgia Constantinou-Panayiotou, another staffer of Neophytou’s election campaign team, said this proposal would benefit 50,000 households, which are comprised of 120,000 men, women and children.

“In cases where the disposable income of a household is below the monetary threshold of the risk of poverty, then the state will cover the difference, so that we can ensure the decent living of all Cypriots,” Constantinou-Panayiotou said.

“By keeping the economy strong, we have created the necessary reserves and capacity to implement policies that support every citizen and all families, without under any circumstances jeopardising the sustainability of public finances.”