The Cyprus Council of Ministers has approved a draft bill that provides certain tax incentives for energy-saving investments. This includes:
- An increase in the capital deduction from 3% to 7% for investment to increase the energy efficiency of buildings;
- An increase in the capital allowance from 10% to 20% for machinery and equipment connected to renewable energy systems and technical energy efficiency improvement systems; and
- An increase in the capital allowance from 20% to 25% for new comm…