Cyprus parliament voted for new tax rules. These changes start January 1, 2026. The government likes these new rules. They want to help families with money. They also want more businesses in Cyprus. Most of the parliament voted yes.
Income tax is changing. People can earn more money before tax. Now, people can earn €22,000 each year without tax. This is more than before. New tax rates will start. People with more money will pay more tax.
Families will get help. They can get money off taxes for children. Families with one child get €1,000 off. Families with two children get €1,250 off. This helps families with costs.
Makis Keravnos is the Finance Minister. He said this is important. He thinks it will help families. Many people in the middle class will save money. Some might save €500 to €2,000 each year.
These changes also help businesses. Cyprus wants good foreign companies. Company tax will be 15%. Taxes on money from shares will be lower. This will make Cyprus good for business.