Filenews 2 September 2025 - by Eleftheria Paizanou
Some provisions of the proposed tax reform will be strengthened with safeguards and others, which are not considered essential, will be set aside to be examined at a later stage, so that, as Fileleftheros is informed, a common formula will be found in the next few months that satisfies the majority of the parties, but also the Parliament.
Consultations between the Tax Commissioner and the various associations are in progress. In fact, during the contacts, the technocrats give some explanations for the reasons why some questionable provisions and especially the measures against tax evasion were included, in an attempt to amuse the reactions.
A competent source told "F" that all the demands put forward by the dissidents began to be regulated through dialogue. As we are informed, some measures that will be implemented later may be postponed in terms of discussion and approval by the Parliament, such as the issue of the estimated salary of company executives for tax purposes.
On the issue of the sealing (suspension of operation) of businesses due to the failure to issue legal evidence, according to the scenarios examined, the inclusion of many safeguards is promoted, before the court is called upon to decide whether the measure will finally be implemented.
Among other things, there are considerations to give warnings before the final decision is taken. So far, the Registrar has met with the CCCI, OEB, TechIsland and contacts with Invest Cyprus, the Association of Banks, insurance companies, insurance intermediaries, ICPAC and the Cyprus Bar Association will follow. However, all bodies are preparing the proposals that they will submit to the public consultation of the bills, which ends on the 10th of the month.
What happened to OEB
Yesterday, after the end of the meeting of the Registrar with the OEB, the president of the Federation, Giorgos Pantelidis, stated that in many places there are convergences and the discrepancies are minimal.
"There are several points on which there is a common view as to what should be differentiated from the proposals submitted under the bill and how specific provisions should be re-evaluated and adapted, in order to contribute to the objectives of the reform (...)," the OEB president added.
In relation to the measures against tax evasion, he said that they exchanged specific views with the Registrar and "there is convergence in relation to the sectors that need to be strengthened", adding that OEB will be an ally of the competent authority "with targeted measures to combat tax evasion".
As he clarified, the specific measures must be clear, adding that "the details must be clear, the conditions and criteria must be communicated and detailed all over the world", so that "the objective of combating tax evasion has a substantial effect".
