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

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

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