The Cyprus International Businesses Association (CIBA) is currently analysing the proposed tax reform, according to an official statement.
Following its review, the statement said, CIBA will present its views and recommendations to president Nikos Christodoulides and Finance Minister Makis Keravnos.
“These proposals will be made public immediately after submission,” the association said.
Moreover, the association reaffirmed its long-standing support for an “effective restructuring of Cyprus’ tax framework to enhance the country’s economic competitiveness”.
It also stressed that any reforms must align with European Union law and adhere to both procedural and substantive obligations under EU commitments.
Finally, CIBA highlighted the need to “consider global legal and economic developments, particularly in the United States, within the context of the strategic cooperation agreement”.
