Cyprus Employers and Industrialists Federation welcomes tax reform and calls for further reforms

The Employers and Industrialists Federation (OEB) expresses its satisfaction with the completion and parliamentary approval of the tax bills before the end of the year.

OEB thanks the Legislative Body, especially the Parliamentary Committee on Finance, for their swift work without compromising quality, even amid the elaboration of the State Budget.

The Federation also appreciates the Government and the Ministry of Finance for listening to business community suggestions and applying a constructive methodology in tax planning.

Special thanks are extended to the Commissioner of Taxation and his team for their collaboration with OEB to develop proposals that enhance competitiveness, transparency, and tax compliance tools.

OEB states that after some time of practical implementation, it will identify and promote the correction of any gaps or weaknesses in the new tax framework.

It emphasizes the need to pursue key pending reforms, including energy, water, pensions, green and digital transition, modernization of the state, and acceleration of justice administration.

OEB highlights Cyprus’s ability to implement important reforms with broad political and social consensus, ensuring social and workers’ peace, and remains optimistic about future development.

As the country’s leading independent employers’ organization, OEB remains committed to economic growth and social prosperity.