The world is getting ready for 2026. Many countries expect slow growth. There will be challenges and new chances. Cyprus is also changing its tax system. This plan will help its economy. It will also help people living there.
Economists think the world economy will grow a little. New technology is helping. This can make businesses work better. It can also create new places to invest. Supply chains are getting better. Energy prices might go down. But there are problems. Countries have disagreements. Trade taxes are going up.
Cyprus is making its own plan. The Tax Department is leading this. They want to help families. They will raise the amount of income that is not taxed. This will help families pay less tax.
The new tax system will have big effects. The tax-free amount will go up. Families with children can get more help. Buying energy-efficient things will also get tax relief.
Employers must help with these changes. They will use a new form. The Tax Department has a new website. This will help people understand the new rules. Cyprus hopes this tax change will work well.