Cyprus: Cyprus Tax Reform - Proposed Key Changes

The Cyprus government is poised to implement its most comprehensive tax reform since 2002, aiming to modernize the tax system while balancing economic competitiveness with social priorities.

As a first step, the Cyprus government commissioned the University of Cyprus Economics Research Centre to come up with a comprehensive tax reform proposal. The key preliminary proposals were presented on the 26 of February 2025 to all the relevant stakeholders. The proposals are expected to be finalised during 2025, and once the reform package is reviewed by the Ministry of Finance, it will be forwarded to the Cyprus Parliament for ratification. Further changes and clarifications will be announced in the coming months.

For a more detailed exploration of this topic, please refer to the attached PDF

Source: WTS Cyprus

For further information please visit the following link: Cyprus Tax Reform: Proposed Key Changes