Pushback to VAT change on home buys

MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower 5% VAT or face hefty financial penalties, while the construction industry wants authorities to ignore it.

Palace meeting on energy crisis looks to longer-term solutions

Those hoping for immediate relief from the continuous surge in energy prices may be disappointed in today’s meeting on the issue, with top officials instead looking towards longer-term solutions.

Selk proposes plan to develop Cyprus economy

The Institute of Certified Public Accountants (Selk) on Thursday submitted a six-part plan to further develop the Cypriot economy and businesses.

House gives the nod for over €100 million to ease inflation pain

The House of Representatives on Thursday greenlit the state’s first supplementary budget for fiscal year 2022, amid criticism that the government keeps wasting taxpayer money on mass rapid tests for Covid while skimping on aid to farmers hit hard by soaring animal feed and fertiliser costs.

E-government training workshop for over 55s

The Cyprus Productivity Centre (CPC) of the Ministry of Labour has announced that in the context of e-government promotion, it is offering a digital skills training workshop on Windows for people aged 55 and over.

Government to continue support measures amid rising inflation, Finance Minister says

The government will continue supporting households and especially the vulnerable amid the rising inflation, Finance Minister Constantinos Petrides had told CNA, warning that tackling inflation is difficult due to its structural nature amid the Ukrainian crisis.

MENA investors set their sights on Limassol as a second home destination

Business owners, entrepreneurs and investors from the Middle East set their sights on Limassol as a second business home location

Cyprus fiscal accounts generate surplus of €38 million in Q4 2021

Cyprus’ fiscal accounts in the last quarter of 2021 generated a surplus of €37.7 million compared with a deficit of €648 million in the respective period of 2020.

Cyprus GDP hit a record high of €23.4 billion in 2021

The revision of GDP figures at current prices for 2021, brought Cyprus’ GDP to an all-time high of €23.43 billion during the previous year.

Growth not tax rises the way forward says finance minister

The government does not intend to raise taxes, but will rather pursue a policy of stimulating growth and attracting new investment in response to the coming economic slump, Finance Minister Constantinos Petrides said on Tuesday.