« Back to News

The government promises tax reduction

The president of Cyprus Nikos Anastasiadis confirmed the government’s desire to continue the reforms aimed at resumption of economic growth and attraction of foreign investments. The main target of the government in the current year is to support the positive dynamics of the first quarter and to completely come out from the phase of recession.

In the medium-term perspective, the president also sees other priorities of government’s work. “We want to become the first cabinet in the history of Cyprus, which attains not only the reduction of government’s debt, but also the reduction of tax burden that was achieved in the past”, – Stock Watch quotes the words of the government’s president.

Based on the information of the publication, the president didn’t specify the exact parameters of the tax reform. However, the head of the government noted that the ministry of finance is working on initiatives, which will provide additional advantages to foreign investors.