The University of Cyprus Economic Research Centre (CypERC) presented potential tax reforms during a meeting with stakeholders on 26 February 2025. The tax reform project was assigned to CypERC by the Ministry of Finance. Some of the main potential tax reforms include:
- Increasing the standard corporate tax rate from 12.5% to 15.0%;
- Revising the personal income tax brackets/rates as follows:
- up to 20,500 - 0%
- EUR 20.501 to 30,000 - 20%
- EUR 30,001 to EUR 40,000 - 25%
- EUR 40,001 to 80,000 - 30%…