Cyprus: Tax Reforms Announced
On 1 July 2015, the President of Cyprus announced a number of tax reforms. The tax reforms will aim in modernising the taxation framework of Cyprus and making it more fair and more competitive, while limiting the taxation burden and offering incentives for growth.
The announcement was made while Addressing the 54th annual meeting of the Institute of Certified Public Accountants of Cyprus (ICPAC).
The proposed tax measures include the following:
The above proposed tax measures will need to be voted into Law by the Cyprus Parliament.
