Cyprus tax-to-GDP ratio ticked up in 2024

The tax-to-GDP ratio in Cyprus saw a slight increase in 2024, rising to 37.6 per cent from 37.5 per cent in 2023, according to data on taxation published by Eurostat.

The overall tax-to-GDP ratio, which is the sum of taxes and net social contributions as a percentage of gross domestic product (GDP), stood at 40.4 per cent in the EU in 2024, representing an increase from 39.9 per cent in 2023.

In the euro area, the tax-to-GDP ratio also increased from 40.5 per cent in 2023 to...