Cyprus overhaul of tax system comes into force

Cyprus’ revamped tax framework for businesses and individuals took effect on January 1, 2026, following the passage of the government’s tax reform package by parliament late last month.

The House plenary approved the reform on December 22, voting through five of the six bills submitted by the executive after amendments introduced during deliberations at the Parliamentary Finance and Budget Committee.

The legislation was published this week in the official gazette, according...