AKEL's Law Proposal for Taxation on Banks
December 1, 2025
A law proposal by AKEL for an extraordinary solidarity tax on banks will be discussed in Parliament. This proposal aims to distribute the burdens arising from the increase in inflation and interest rates. The Banks Association expresses its disagreement, arguing that the proposal targets only the banking sector, while other sectors also saw profits. Additionally, they point out that the special tax imposed on Cypriot banks is not implemented elsewhere. The topic gains particular significance in the lead-up to the upcoming elections.