Nicosia: Tax reform in Cyprus was the focus of a meeting on Wednesday between President of the House of Representatives, Annita Demetriou, and a delegation of the FISC Subcommittee of the European Parliament, that is visiting Cyprus. The delegation was escorted by Cypriot MEP, Michalis Hadjipantela.
According to Cyprus News Agency, Demetriou welcomed the FISC delegation, emphasizing the significance of the ongoing discussions in Cyprus. She expressed the need for guidance and input from the delegation to enhance both the relations between the European Parliament and the House of Representatives, and the substance of the tax reform itself. Demetriou highlighted the benefits, causes, and challenges of the reform, hoping for a fruitful dialogue with the FISC delegation.
Demetriou further elaborated on the government’s proposals and the focus on certain groups that should be included in the tax reform, such as students, families with children, and the elderly. She stressed the importance of ensuring that these groups benefit from the reform according to their income, while also expressing a desire to avoid complicating matters for companies and the industry.
The House President underscored the necessity for careful decisions regarding tax reform, citing Cyprus’s efforts to maintain financial stability and prosperity since the Turkish invasion in 1974.
Kira Peter-Hansen, head of the FISC delegation in Cyprus and Vice Chair of the FISC Subcommittee, stated that the delegation aims to understand the ongoing work on tax reform, Cyprus’s political priorities, and its tax system as it prepares for an upcoming Presidency of the Council of the EU. She noted that the delegation has engaged with business representatives, trade unions, and economists, and highlighted the Subcommittee’s efforts to involve national parliamentarians, including hosting an annual tax symposium.