European Commission sues Cyprus over failure to implement tax laws

The European Commission on Thursday announced that it had sued Cyprus over the country’s failure to implement European Union laws regarding corporate tax.

Cyprus has, according to the commission, failed to implement a European Union directive aimed at ensuring a global minimum level of taxation for multinational corporations and large-scale domestic entities.

The directive was issued by the commission in December 2022, with the EU’s member states then being given until the...