Annually, the tax-to-GDP ratio increased in 12 EU countries, with the largest rise registered in Cyprus (from 34.8% in 2021 to 36.5% in 2022) and Hungary (33.9% to 35.1%). The overall tax-to-GDP
The government unveiled a comprehensive €196 mln package of measures, including fuel subsidies, to alleviate the financial burdens of the rising cost of living. The 17-measure package, including the reinstatement of an
No relief for motorists is in sight from hiking petrol prices, as the government is contemplating new fuel taxes as part of a green taxation reform imposed by the European Union. The
The government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said, hoping banks will follow suit in boosting revenue for depositors. During the 2013 financial
Cyprus is not expected to face any further consequences following the decree signed by Russian President Vladimir Putin for suspending certain provisions of international taxation agreements, said the Finance Ministry. A statement
Cypriots will see energy costs rise overnight when a freeze on consumer tax on fuel and a government subsidy on electricity bills expire at the end of June. The relief measures introduced
Plans to cut the VAT rate on selected consumer goods and services or reduce it to zero and the Finance Minister’s call on banks and loan recovery firms to reduce mortgage rates
The online tax statement platform Taxisnet will be open to receive individual and corporate income tax statements for the year 2022 in the coming weeks, according to the Tax Department. Although the
The government has decided to continue subsidising fuel prices at the pumps by extending a reduction on consumption tax for another two months. The Finance Ministry announced on Wednesday that the government
The government plans to extend a subsidy on electricity bills introduced by the previous administration but will discontinue a freeze on consumer fuel tax. According to Phileleftheros daily, quoting government sources, President
