The modernisation of the tax system is necessary

Meeting between the General Secretary of AKEL and the Cyprus Scientific and Technical Chamber (ΕΤΕΚ)

9 April 2024, AKEL C.C. Press Office, Nicosia

A delegation of AKEL headed by the Party’s General Secretary, Stefanos Stefanou, met with the National Tax Board today, launching a series of contacts and meetings that will follow, focusing on the reform of the taxation system.

Stefanos Stefanou stressed AKEL’s belief in the need for substantial changes to the tax system, which as it was formed in 2002 has significant distortions. What is needed, he pointed out, is a substantial reform leading to a new tax system that is fair, simple and efficient.

At the core of the proposals that AKEL is elaborating is the modernisation of the framework, fiscal stability and social sensitivity, particularly with regards to supporting society, especially the vulnerable groups of the population and the middle strata. A reform, to be fair, S.Stefanou stressed, should distribute the burden according to the tax capacity of each individual.

Finally, Stefanos Stefanou thanked ETEK for the proposals it submitted on the issues related to tax reform and assured that the Chamber that AKEL would study them.

ETEK was represented by its President Konstantinos Constanti and Senior Scientific Officer Christos Maxoulis. The delegation of AKEL included the Head of Economic Policy Charis Polycarpou, the Head of the Development and Transport Sector Lambros Lambrou and the member of the Economic Policy Bureau Vakis Charalambous.

09.04.2024