Business in turmoil over corporate tax hike

Business is in turmoil over the government’s move to increase corporate tax from 12.5% to 15%, fearing Cyprus losing an advantage over competitors as an investment destination. Business lobby groups argue the

Empty land should be taxed

For the past 15 years, I have expressed views on the need to tax vacant building plots and development land which is not in any use. Approximately 40% of the development land


Cyprus to reform corporate tax

Next year, Cyprus will proceed with tax reforms, including increasing corporate income tax and introducing green taxation to achieve its environmental targets, Finance Minister Constantinos Petrides said. Speaking before the Parliament’s plenary

Cyprus unveils new foreign business strategy

The government has presented its new strategy to attract companies, emphasising high-tech, research and innovation. Implementation of the strategy is expected to start from January 2022. During a presentation at the Presidential

G7 tax deal may not impact Cyprus

A decision by the G7 to impose a global minimum tax rate appears not to affect Cyprus’ competitive corporate regime, Finance Minister Constantinos Petrides said. In a written comment to Reuters, Petrides

OECD: Cyprus largely compliant on tax transparency

The Organisation for Economic Co-operation and Development has approved Cyprus’ peer review (second round) on Transparency and Exchange of Information for Tax Purposes, the Finance Ministry said. OECD’s Global Forum placing Cyprus as