Lawmakers in Cyprus want to change tax rules. These changes will make the tax system new. This should help bring more foreign companies. The economy was okay in November. One big economic number went down a little. But some parts of the economy are better.
The new tax rules start in 2026. The Finance Minister is leading this plan. The goal is a better tax system. People with middle incomes will pay less tax. More money will not be taxed. This goes up from €20,500 to €22,000. Rules for children's tax help will change too. Some tax amounts will be changed. Stamp papers are not needed now. This makes things easier for people.
But there are some bad parts. The tax on company money will go up. It will be 15% instead of 12.5%. This is so Cyprus is not seen as a tax place. The government hopes this makes Cyprus more open. They think the tax changes will bring the same money. They have extra money now. They must watch the money. People earning less than €19,000 may not get help. Freelancers need to show more proof of money.
The economy news is mixed. The main economic number dropped in November. Some parts of the economy are not happy. Services are not doing well. But shops, building, and factories are happier. Shops are selling more. Building companies have more work. Factories also expect more work.
People feel better about money. They are more happy about the economy. They plan to buy big things. Less worry about the economy is good. It helps people and companies.
Cyprus is trying to fix these things. The tax plan wants a strong system. The economy is a little down, but some parts are strong. The changes will work if they are done well. A good economy will help people and companies come.