On 14 February 2022, the European Commission announced its approval of a Cypriot scheme to support private investments into innovative SMEs. The scheme is similar to a past incentive in Cyprus. Under the latest scheme as approved, up to 30% of qualifying investments may be deducted from taxable income, limited to 50% of taxable income up to a maximum of EUR 150,000 per year and EUR 750,000 with five years of the investment.
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State aid: Commission approves €2 million Cypriot scheme to su…