A more regressive tax system
There are three main criticisms of the proposed tax reform.
First, it is not directed at meeting the medium to longer-term government revenue and expenditure needs of Cyprus and is ...
‘60 per cent of people will not pay tax’
A total of 60 per cent of people will not pay tax according to the tax reform put forward by the government, Finance Minister Makis Keravnos said on Sunday.
This is ...
Keravnos’ threat: I will scrap tax reform plans if House makes ‘too many’ amendments
Finance Minister Makis Keravnos on Wednesday threatened to scrap his tax reform plans in their entirety if parliament makes too many amendments to the current plans.
Speaking after the day’...
Proposed tax reform is blatantly unfair
President Nikos Christodoulides has stated repeatedly that the proposed tax reform will “aim at reducing the tax burden on families and working people, modernising the economy, and encouraging competitiveness”.
However, ...
Tax reform bills expected to take effect in January 2026
Tax reform bills are in their final stages of preparation, with the government aiming to implement them on January 1, 2026, Finance Minister Makis Keravnos told political parties on Thursday.
Keravnos briefed ...
‘No delays’: president insists tax reform will begin in 2026
President Nikos Christodoulides on Tuesday clarified that Cyprus’ new tax reform will come into force without delay on January 1, 2026, describing the implementation date as final and non-negotiable.
Speaking during a ...
Keravnos calls for tax reform to be implemented by autumn
Finance Minister Makis Keravnos on Thursday called for the government’s tax reform plans to be complete by autumn.
He said he has received “positive reactions” to Wednesday’s announcement ...
Parties mixed in response to tax reform plans
Cyprus’ political parties issued mixed responses to tax reform plans announced by President Nikos Christodoulides on Wednesday.
Disy, Cyprus’ largest party, said the plans contain “elements which satisfy us” but ...
Tax reforms ‘step in the right direction’, say OEV, Keve
The employers and industrialists’ union (OEV) and the Cyprus chamber of commerce and industry (Keve) have welcomed the tax reforms proposed by the government on Wednesday, saying they were a ...
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Plans for tax-free income threshold to rise to €20,500
Cyprus’ tax-free income threshold is set to rise to €20,500 per year, following the announcement of a set of sweeping tax reform plans by President Nikos Christodoulides on Tuesday.
The plans ...
Urgent need for decent tax reform and administration
The current Cyprus government is failing in addressing interrelated key economic, social and environmental issues as well as corruption by not implementing rational reforms and measures.
It is just resorting ...
Employers and industrialists federation fully supports tax reform
By Antonis Antoniou
The tax environment is a factor of particular importance in shaping the competitiveness of any country. And in countries like Cyprus, with limited natural resources and relying ...
Coming tax reform will include carbon and fossil fuel levies, Petrides says (Updated)
The government plans to go ahead with taxation reform after 20 years, including raising the corporation rate and introducing carbon tax and fossil fuels taxes to achieve the country’s environmental ...