Cyprus has new tax rules. These rules help people pay less tax. Families will get more money. The government wants people to spend money. The tax system is now easier. This is good for everyone.
People can earn more money now. They can earn €22,000 before paying tax. The tax rates are changing too. Earn €22,001 to €32,000, pay 20% tax. Earn more, pay higher tax. People earning over €72,000 pay 35% tax. This helps normal people.
Families are paying less tax. A family with two kids pays €1,000 tax. Before, they paid €4,400 tax. This saves them €3,400. Single parents also save money. This means more money for homes.
The new tax rules help businesses. They are simpler and clearer. This can help companies grow. The Ministry of Finance likes the changes. They help people's money. A website can show your savings. These changes help society. They help the economy grow.