Cyprus Taxation Update for 2024

Cyprus, known for its favorable tax regime, has introduced new taxation changes set to take effect in 2024. These updates reflect Cyprus’s commitment to maintaining a competitive yet compliant tax environment. Among the noteworthy changes are the introduction of new tax incentives for businesses, adjustments in capital gains tax, and enhancements in tax deduction policies. These amendments are particularly relevant for international businesses leveraging Cyprus’s strategic location and tax benefits.