Entrepreneurship is in the Cypriot DNA worldwide. In the last 100 years, many of our relatives (including mine) moved to other countries for a better life with very little money in their pockets to improve their families’ lives. Following the disastrous 1974 Turkish invasion, our country was transformed from near bankruptcy, having lost its tourism market and 40% of its land, into a services-based economy.
Social insurance contributions for the lowest paid will be reduced.
The tax system will be simplified for the lowest paid, and the salary threshold for audited financial statements increased.