{"id":117870,"date":"2025-08-27T14:33:28","date_gmt":"2025-08-27T11:33:28","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=117870"},"modified":"2025-08-27T14:33:28","modified_gmt":"2025-08-27T11:33:28","slug":"finance-ministry-outlines-goals-for-tax-overhaul-focusing-on-transparency-and-combating-evasion","status":"publish","type":"post","link":"https:\/\/lamaisonestates.com\/he\/finance-ministry-outlines-goals-for-tax-overhaul-focusing-on-transparency-and-combating-evasion\/","title":{"rendered":"Finance Ministry Outlines Goals for Tax Overhaul, Focusing on Transparency and Combating Evasion"},"content":{"rendered":"<p>The Cypriot government is proceeding with a comprehensive tax reform designed to create a more stable and transparent system that attracts foreign investment and enhances local entrepreneurship, the Ministry of Finance has confirmed.<\/p>\n<p>As part of an ongoing &#8220;extensive consultation&#8221; on the matter, Finance Minister Makis Keravnos is scheduled to hold a joint meeting with leaders and representatives from all parliamentary parties in the near future to discuss the proposed transformation.<\/p>\n<h2>Core Objectives of the Reform<\/h2>\n<p>In a statement addressing comments from various parties and organizations, the Finance Ministry emphasized that the primary goal of the reform is to bolster the competitiveness of the Cypriot economy.<\/p>\n<p>The key objectives cited include:<\/p>\n<ul>\n<li>Supporting Cypriot entrepreneurship and continuing to attract foreign investments.<\/li>\n<li>Alleviating the tax burden on the middle class.<\/li>\n<li>Ensuring a more equitable distribution of benefits to all taxpaying citizens.<\/li>\n<li>Combating tax evasion and the shadow economy.<\/li>\n<\/ul>\n<p>The necessity of this reform for the future of the economy, the ministry noted, is &#8220;widely acknowledged.&#8221;<\/p>\n<h2>The Fight Against Tax Evasion<\/h2>\n<p>A central pillar of the government&#8217;s strategy is the fight against tax evasion. The ministry described this effort as not only necessary for economic growth but also as a &#8220;crucial method for reinforcing transparency, taxpayer trust, and equality before the law.&#8221;<\/p>\n<p>This focus on transparency is also linked to a broader effort to improve the nation&#8217;s international standing. The statement described it as &#8220;the only way to enhance the positive international image of the economy,&#8221; which will contribute to Cyprus\u2019s reputation as a reliable international business hub.<\/p>\n<h2>Bolstering Cyprus&#8217;s International Reputation<\/h2>\n<p>The ministry connected the tax reform to the government&#8217;s determination to &#8220;clear Cyprus\u2019s name from the repercussions of previous policies.&#8221; In line with this, the statement noted that the National Sanctions Implementation Unit has now been established and is operational.<\/p>\n<p>The government&#8217;s ultimate goal, the ministry concluded, is a fair tax system that &#8220;leaves no room for the development of tax evasion and avoidance phenomena,&#8221; ensuring that Cyprus remains an attractive destination for investment while supporting the resilience and competitiveness of local businesses.<\/p>\n<p><i>Source: stockwatch.com.cy<\/i><\/p>","protected":false},"excerpt":{"rendered":"<p>The Cypriot government is proceeding with a comprehensive tax reform designed to create a more stable and transparent system that attracts foreign investment and enhances local entrepreneurship, the Ministry of Finance has confirmed. As part of an ongoing &#8220;extensive consultation&#8221; on the matter, Finance Minister Makis Keravnos is scheduled to hold a joint meeting with [&hellip;]<\/p>","protected":false},"author":9,"featured_media":117874,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/117870"}],"collection":[{"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/comments?post=117870"}],"version-history":[{"count":2,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/117870\/revisions"}],"predecessor-version":[{"id":117877,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/117870\/revisions\/117877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/media\/117874"}],"wp:attachment":[{"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/media?parent=117870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/categories?post=117870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lamaisonestates.com\/he\/wp-json\/wp\/v2\/tags?post=117870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}