Cyprus Published Law N.45(I)/2024 in the Official Gazette on 12 April 2024, which provides increased capital allowances (deductions) for expenditure on improving energy efficiency and electric vehicles. This includes:
- A 7% allowance rate for capital expenditure incurred to improve the energy efficiency of buildings, such as thermal insulation;
- A 20% allowance rate for capital expenditure incurred for technical building energy efficiency systems, such as heat recovery systems and energy mana…