tax reform

Economy

Late tax filers spared penalties but lose compliant status

Employees and self-employed people who miss the October 31 deadline for their 2025 personal income tax returns will not...
Economy

Income tax filings to switch to Tax For All platform in 2027

The Tax Department will move all direct taxes onto its Tax For All system in early 2027, after changes...
Economy

Half of businesses breach new tax rules, inspections find

Half of the businesses inspected by Tax Department officers in recent days were found to be in breach of...
Economy

Tax reform favours high earners despite fairness goal, study finds

Cyprus's 2026 tax reform raises disposable income and cuts income tax overall, but the biggest gains flow to higher...
Economy

New tax system bites into individual income revenues despite overall €171m surge

Cyprus tax revenues rose by 5.9% in the first five months of 2026, though a sweeping tax reform introduced...
Economy

Tax office to start sealing businesses with €20,000+ debts this summer

The Tax Department will begin sealing the premises of businesses that owe more than €20,000 in tax this summer,...
Economy

Tax Department to shut down businesses and seize shares for unpaid debt

Cyprus tax officials are finalising strict new enforcement measures that will allow them to shut down businesses and seize...
Economy

Here’s what changes under Cyprus’s new tax penalties

Cyprus's tax reform has brought not just rate changes and deductions but a sharp increase in financial penalties, with...
Economy

What changes for businesses after tax reform

Cyprus's tax reform, which took effect on 1 January, raises the corporate tax rate from 12.5% to 15% whilst...
Economy

Reform cuts tax bills by up to €5,993 for families

Cyprus's tax reform came into force this month, cutting tax bills and boosting disposable income for citizens, families and...
Economy

Single parents to receive doubled child tax deductions from 2026

Single parents will receive double the child tax deductions given to couples from tax year 2026 under new income...
Economy

Cyprus raises tax-free thresholds on property sales and extends exemptions to exchanges

Cyprus's tax reform has changed capital gains tax rules for property sales, property exchanges and share transactions in moves...
Economy

How you can claim up to €3,000 in tax deductions

Taxpayers will be able to benefit from deductions of up to €3,000 per year from income tax under the...
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