In the evening of March 12, President of the Republic of Cyprus Nikos Christodulidis
Summed up
The results of two years of stay at post No. 1. The head of state spoke about successes in the field of economics, announced a reduction in electricity VAT and explained why it was decided to increase the non -taxable tax rate by only 1000 euros, and not by 5,000 euros, as stated in its election program.
The press conference, which took place in the office of the head of state in the presidential palace in Nicosia, was attended by five journalists of the RIK, Sigma, Omega, Alpha and Ant1 TV channels. At first, Nikos Khristodulidis made an appeal to the viewers after two years in power, and then answered questions from journalists. “Europe-Quipre” offers the most striking moments from his television and answers to questions.
ECONOMY
One of the highest growth rates in the eurozone has been achieved: in 2024, GDP became more by 3.4%. Fanterial rating agencies increased the Cyprus credit rating to the investment level A. The state debt to 60%of the GDP. The conditions for full employment were borne, unemployment reached the lowest level since 2008 - 4.9%. 13.2%, and social security pensions - by 6%, which is the highest indicator since 1996. The ownership of the courts under the flag of the Republic of Cyprus increased by 18%. In 2024, historical records in the field of tourism were set: more than four million foreign tourists and income exceeding three billion euros.
Digitalization
A simplified online process of licensing in the field of urban planning was introduced. Construction permits for one house or two are issued for 40 days a maximum (if all documents), for 12 houses of maximum and apartment buildings up to 20 apartments-within 80 days. The online application “Digital Citizen”. The site of the Ministry of Migration was created. The first of the Government’s first product created using artificial intelligence is the first time. digital identity certificates that will facilitate financial transactions for citizens of the Republic of Cyprus.
Expensive income tax
In the pre -election program, Nikos Christodulidis promised that he would raise the threshold for all individuals from 19,500 to 24,500 euros an income tax. However, during the presentation of tax reform, it was announced that tax -free income would be only 20,500 euros.
Read more
- V
article
“European-Kipr” “Tax reform in Cyprus: What did the president suggest?”
According to Nicos Khristodulidis, he analyzed the situation in Cyprus and revealed two main problems: housing and demographic.
“When we live in a country where the reproduction of the population is 1.3, and we need a coefficient of 2.1, I must provide incentives with the help of tax transformation and social policy to be born more children,” Nikos Khristodulidis explained.
For this reason, the “ceiling” of income income for everyone was increased by only 1000 euros, and for young families with children, additional preferential tax schemes were offered to help them quickly purchase housing, as well as improve the demographic situation in the country.
“Depending on the criteria, it [the bar of income income for families with children significantly] exceeds 24,500 euros,” the head of state noted.
What else has been done?
A tax reform is submitted to the discussion of the company aimed at improving the standard of living of the middle class and youth, the competitiveness of the Cyprus business and the solution of housing and demographic problems. A strategy for employment of citizens of third countries is reviewed. The Blue Carts law, aimed at attracting highly qualified personnel from third countries, is approved. The deadline for children to care for children is liable. The amounts of children's benefits have grown. Tariffs for electricity consumption for about 33 thousand incomplete families and low -income families are reduced. The problem of illegal migration is in the problem. They are sent from the country twice as many migrants who were refused to provide a political execution, in comparison with the number of those who arrive.
