Cyprus chamber of commerce opposes additional tax on banks

The Cyprus Chamber of Commerce and Industry (Keve) on Thursday released a statement outlining its position against the proposed imposition of additional taxation on banks, arguing that such a measure would not constitute a sound economic choice.

The chamber stated that “any form of taxation cannot under any circumstances serve as an instrument of social policy”.

It pointed out that “the banking sector has already paid significant tax burdens during the period 2017 to 2024″.