Finance Ministry

Locking in tax declarations

The Finance Ministry and the tax administration (AADE) are planning on "locking" pre-filled value-added tax declarations as well as the E3 tax form, at least regarding the declared income of businesses and professionals, in an attempt to contain tax evasion.

Civil servants to get a raise

The new salary system for civil servants to be activated from January 1, 2024, provides for a horizontal increase of 60-70 euros for the 660,000 public sector employees.

According to Finance Ministry officials, it includes fundamental changes in the salaries of civil servants, with raises and the reinforcement of special salaries, especially for those in positions of responsibility.

Nicosia’s proposals for vulnerable citizens

Cypriot Finance Minister Makis Keravnos submitted several government actions aimed at addressing issues related to nonperforming loans to Parliament on Wednesday.

In a letter addressed to Speaker of the House Annita Demetriou, the Finance Ministry emphasized that the proposed framework is considered satisfactory and provides a "safety net" for vulnerable groups.

HFSF to concede stakes in banks, starting with Eurobank

The disinvestment program of the state from its holdings in banks will be fully implemented from this fall, starting with Eurobank and the allocation of its 1.4% stake.

Up next will be National Bank, in which the Hellenic Financial Stability Fund (HFSF) has the largest stake, amounting to 40.39%.

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