New online tax payment system Tax For All will launch on March 27, replacing Taxisnet, the tax department said on Monday.

Tourist arrivals in Cyprus increased by 65.6 per cent year-on-year in February 2023, reaching 119,081 visitors, up from 71,921 during the same month of the previous year, according to a report released on Friday by the Cyprus Statistical Service.

Director General of the Deputy Ministry of Research, Innovation and Digital Policy, Stelios Himonas this week said that Cyprus is focusing on digital skills and access to Gigabit connectivity, stressing that support for innovation and entrepreneurship is crucial for the digital transition.

The Synthesis Centre for Research and Innovation announced this week that is proceeding with the launch of the Cyprus Forum for Social Innovation, which is expected to help promote social innovation and social entrepreneurship in Cyprus.

According to preliminary data from the Cyprus Statistical Service (Cystat), the trade deficit in Cyprus increased significantly in January 2023, as imports increased more than three times the increase in exports.

According to preliminary data from the Cyprus Statistical Service (Cystat), the trade deficit in Cyprus increased significantly in January 2023, as imports increased more than three times the increase in exports.

International rating agency Fitch, has upgraded Cyprus’ long-term credit rating by one notch to ‘BBB’ with a stable outlook citing, outperformance of fiscal balance and growth rate as the economy showed resilience from the external shock caused by the war in Ukraine.

Russians were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data from the department of lands and surveys, data shows.

The gambling industry in Cyprus shows a steady upward trajectory according to the national betting authority which announced on Friday that the 2022 gross gaming revenue (GGR), near €960 million, increased by 22 per cent year-on-year.

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