Tax cut

Employers in Cyprus are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness.

Prime Minister Kyriakos Mitstoakis signaled his intention on Wednesday to start delivering the measures to reduce tax evasion before proceeding with promised tax cuts.

The move is a signal at home for tax compliance, but also to markets that the government is proceeding with fiscal caution.

New Democracy has been saying it all along and SYRIZA, eventually, adopted the same view: In order to kickstart a sluggish economy, you need three things - investments, investments and investments.

U.S. President Donald Trump proposed on Sept. 27 the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.

The International Monetary Fund on June 27 cut its growth forecasts for the U.S. economy to 2.1 percent for both 2017 and 2018, dropping its assumption that President Donald Trump's tax cut and fiscal spending plans would boost growth.

Challenging the budget draft law at the Constitutional Court of Romania (CCR) is a reprehensible gesture, and it lacks economic, social and political logic," believes the Prime Minister's advisor, Cristian Socol.

After four years of tax increases that have strained Greek households and businesses, the Finance Ministry is planning to introduce tax cuts from next year for salaried workers, pensioners and self-employed professionals but this will depend on authorities boosting tax collection rates, Kathimerini understands.