Techisland has welcomed Parliament's adoption of the tax reform.
In a statement on 23 December, the association noted, "The adoption of the tax reform by the House of Representatives concludes an extensive institutional process aimed at modernising Cyprus’s tax framework."
The statement continued, "TechIsland acknowledges the importance of the dialogue that preceded the legislative process and the opportunity provided to social and productive stakeholders to submit their positions and recommendations. As an association of technology companies representing the fastest-growing sector of the Cypriot economy, with a contribution of €8 billion to GDP, TechIsland actively participated in the process, submitting well-documented views with the objective of maintaining and strengthening the country’s international competitiveness."
"With the legislative process now complete, the focus shifts to the implementation of the new provisions, their clarity and practical functionality, as well as their real impact on business operations and, by extension, on the economy," TechIsland continued in its statement.
"TechIsland will closely monitor the implementation of the reform and will continue to engage constructively in public dialogue, submitting substantiated recommendations where deemed necessary, with the aim of supporting a stable, predictable and conducive business environment," the statement concluded.
