Coming tax reform will include carbon and fossil fuel levies, Petrides says

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 objectives, Finance Minister Constantinos Petrides said on Thursday.

Government’s fiscal performance much improved over last year

The uptick in economic activity this year compared to 2020 – hampered by lockdowns – has generated a substantial improvement in the government’s fiscal performance, preliminary data for January to October show.

List of high tech firms grows

Courting Big Tech and Fintech firms is paying off; as more companies pack their bags to set up shop in Cyprus, Eurisko Mobility, active in digital transformation, announced plans to relocate.

Trapped buyers get extension to protection

By unanimous vote, parliament on Thursday passed a law extending to the end of 2022 the protection afforded to ‘trapped’ property buyers.

ECB autumn forecast paints positive picture for Cyprus

The European Commission’s Autumn 2021 Economic Forecast which was presented on Thursday shows positive prospects for Cyprus, including an increase in GDP by 5.4% for 2021 as a whole, while real GDP is expected to reach its pre-pandemic level in the fourth quarter of this year.

Petrides says current inflation hike seen as transient

Finance Minister Constantinos Petrides voiced concern on Thursday over the risk to the economy from rising prices but said that inflation is currently viewed as transient.

Budget to allocate more than €3 billion for staff expenditures

The state budget for 2022 was handed over to parliament on Thursday, with the drastic reduction of the deficit being the key takeaway.

Increasing the efficiency of the tax department

The increase of the efficiency of the Tax Department, both for the collection of taxes and for the service of the public is of the utmost importance, stressed the Minister of Finance Konstantinos Petridis, during his visit today to the Nicosia District Tax Office.

Outgoing CySEC chief says everything shipshape for successor

Outgoing Chairwoman of the Cyprus Securities and Exchange Commission (CySEC) Demetra Kalogirou said that her successor should not forget the Commission’s vision to establish the safest and most reliable capital market as an attractive investment destination, through effective supervision, a vision that was formed after the financial crisis in 2013.