The Cyprus Chamber of Commerce and Industry (Keve) recently met with tax commissioner Soteris Markides to discuss essential reform initiatives aimed at improving the country’s tax system.
- The Cyprus Chamber of Commerce and Industry (Keve) recently met with tax commissioner Soteris Markides to discuss essential reform initiatives aimed at improving the country’s tax system.
During the constructive meeting held on Tuesday, Keve was represented by its board of directors alongside its economy committee, while Markides brought his team to the table. The discussions centred on proposed bills related to the forthcoming tax reform.
Keve articulated specific recommendations intended to streamline tax procedures. The chamber emphasised that these proposals are designed to bolster the fight against tax evasion and protect Cypriot businesses from unfair competition.
In their statement, Keve noted the positive reception from the tax commissioner and his team regarding the concerns raised. “Their readiness to support measures that enhance the state’s tax collection was evident during our discussions,” the chamber remarked.
As part of the collaboration, both parties agreed that the detailed proposals and recommendations would be formally submitted to the relevant authorities in the near future. This initiative also aims to strengthen the communication and relationship between Keve and the tax office.
Keve underscored the necessity of ongoing dialogue to ensure the proposed measures effectively benefit both the business sector and public finances. This sentiment reflects a shared goal of fostering a more efficient tax environment.
Additionally, the Finance Ministry announced an extension of the public consultation period concerning the tax reform package. Originally set to conclude on August 25, 2025, the consultation will now continue until September 10, 2025, allowing more stakeholders to provide their input.
