Cyprus employers hoping for support measures for businesses

Cyprus employers hoping for support measures for businesses

The Employers and Industrialists Federation (Oev) this week released a

statement welcoming the new support measures for Cypriot households, while at the same time expressing “hope for the prompt formulation and announcement of a clearly-defined support package for businesses“.

In its statement regarding household support measures, the federation said that “by preserving citizens’ purchasing power, we can maintain a high growth rate, while social cohesion is also strengthened”.

“Measures that are timely, targeted, and temporary, aiming to support population groups disproportionately affected in challenging times, are effective and have a multiplier effect,” it added.

The federation said that it “particularly commended the abolition of the annual €350 corporate levy and said that it is actively engaged in intensive, productive collaboration with the president and his economic team, with the hope that a dedicated business support package will soon be formulated and announced”.

The statement underscored “that a number of tax burdens imposed on businesses during the 2011-2013 crisis continue to be in effect, negatively impacting the competitiveness of Cypriot enterprises“.

“While all other burdens imposed during the same crisis have long been lifted, returning to pre-crisis conditions, certain tax impositions persist,” it added.

The federation also said that “a series of proposals, for which we expect a prompt response, aimed at improving the competitiveness of Cypriot businesses, have been submitted to the president in recent days”. Cyprus Mail

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