Urgent Need for Approval of Tax on Multinationals
November 20, 2024
Cyprus is facing difficulties in implementing the 15% tax on multinationals due to past controversial tax practices. Finance Minister Maki Keravnos is urging the immediate approval of the law before the year ends to avoid damaging the country's reputation. Concerns exist regarding the impact on Cyprus's ratings and economy. European rules and state aid are still obstacles to the progress of the legislation.