OEB WELCOMES THE TAX REFORM
NOW WE NEED TO SPEED UP THE OTHER REFORMS
The Employers and Industrialists Federation (OEB) expresses its deep satisfaction for the completion of the processing and the voting of the tax bills by the Plenary Session of the Parliament, in time before the end of the year.
At the same time, OEB expresses sincere thanks to the Legislative Body and especially to the Parliamentary Committee on Finance, for the race they traveled at high speeds without affecting the quality of the final result, even in the midst of the elaboration of the State Budget.
OEB expresses its thanks to the Government and the Ministry of Finance not only for the listening they have given to the documented suggestions of the business community, but also for the methodology they have applied in the formulation and finalization of tax planning.
Special thanks are due to the Commissioner of Taxation and his team, for the valuable time they devoted to the leadership and the technocratic staff of OEB to discuss, elaborate and adapt proposals and regulations that enhance competitiveness, preserve transparency and equip the tax authorities with tools to ensure tax compliance.
OEB clarifies that after a reasonable time has elapsed since the practical implementation of the new tax framework, it will bring before the State and promote gaps or weaknesses that may be identified and that should be properly handled and adjusted.
With the same seriousness and effectiveness, the promotion and completion of key pending reforms must be pursued, the main ones being energy, water, pensions, the green and digital transition, the modernization of the state machine and the acceleration of the administration of justice.
Cyprus proves that it can implement important reforms seriously, with the consent of the political and productive forces that guarantee social and workers’ peace, and looks ahead with optimism and confidence.
OEB, as the most representative, independent Employers’ Organization in the country, remains committed to the course of economic development and social prosperity.
