The Cyprus Ministry of Finance has published the speech on the State Budget for 2022 that was given by Finance Minister Konstantinos Petridis in parliament on 9 December 2021. In the speech, the Minister discussed plans for comprehensive tax reform measures that are to be consulted on and finalized in 2022. The planned measures include the following:
- Increase in the corporate tax rate from 12.5% to 15% considering the OECD global tax reform that has been agreed to by Cyprus;
- Reduction or ab…