Cyprus has largest tax-to-GDP rise

Cyprus had the largest rise in the EU in its tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product, according to Eurostat data.

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AKEL wants 90% windfall tax on RES profits

Main opposition party AKEL has tabled two bills targeting excess profits with a whopping 90% windfall tax on energy producers working with Renewable Energy Sources. The bills tabled by the left-wing party

Reduced tax on fuel extended

The government has extended reduced excise duties on fuel until 15 January 2023 in a bid to alleviate the effects of soaring inflation driven by the war in Ukraine. Finance Minister Constantinos

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Pay as you throw coming soon

In two years, municipal authorities must implement a “pay as you throw” tax scheme on waste, promoted by the government to meet its EU environmental targets by encouraging more recycling. MPs on

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Cabinet widens tax exemption for innovation

The Cabinet has approved a bill which amends the income tax law for existing tax exemption for investments in small to medium innovation companies and extends to cover corporate investors. According to

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