The Cypriot Minister of Finance, Makis Keravnos.
The Cypriot authorities will current its blueprint for a tax reform in early 2025, Finance Minister Makis Keravnos introduced.
Talking at an open dialogue occasion organized by the GRM Skilled Coaching Heart in Limassol, themed “The Upcoming Tax Reform in Cyprus: Objective, Pointers and Timelines,” the minister mentioned Nicosia will then subject updates on the mission’s progress, current the outcomes of every part accomplished to date and introduce the preliminary tax framework.
Keravnos highlighted that 22 years have handed because the final tax reform. “It’s a political resolution to maintain the momentum of our financial system by sustaining fiscal self-discipline, pursuing balanced growth insurance policies, enriching our financial mannequin, and implementing structural adjustments,” he acknowledged, noting that the reform might yield important advantages, enhancing the nation’s sustainability and competitiveness.
“This reform goals to make the tax system fairer, extra environment friendly, and extra aggressive whereas strengthening the belief of residents and companies within the state,” he added.
He underscored that tax coverage is crucial to adapt to world financial adjustments and bolster Cyprus’ place as a horny funding vacation spot.
