tax reforms

More than , €8bn of ‘major developments’ planned in Cyprus

by
More than , €8bn of ‘major developments’ planned in Cyprus

More than €8 billion of major developments have been planned in Cyprus, with 18 to 20 projects expected to create between 8,000 and 9,000 jobs. The developments will include new marinas, golf courses, technology parks, tourist complexes, medical centers, and other projects. The chairman of the Association of Large Investment Projects stated that his views are aligned with President Nikos Christodoulides and they aim to attract foreign investments and promote the implementation of major development projects. Incentives will be provided to encourage foreign companies to partner with Cypriot companies, and efforts will be made to clean up Cyprus’ name and improve the country’s image in the eyes of investors.

Laudable progress in direct taxes but scope for betterment remains

by
Laudable progress in direct taxes but scope for betterment remains

The Indian middle class may be disappointed with the Narendra Modi-led government’s lack of adjustments to tax rates and slabs. Personal tax collections have increased significantly, with the share of personal tax in overall collections rising from 38% to 52% in the last decade. Efforts have been made to improve tax compliance through technology and widening the tax base. Corporate tax collections have not grown as much as personal taxes, indicating room for improvement in the tax system.