Cyprus in Greek list of states with preferential tax status since 2014 says FinMin

14:38 - 29 December 2023

Economy Reporter

Cyprus has been on Greece's list of states with preferential tax status since 2014, the Ministry of Finance has noted in a written statement, adding that this does not affect commercial and economic relations between the two states.

As stated by the Ministry in response to a spate of negative press reports, the Republic of Cyprus has been included in the list since 7 March, 2014, as the conditions for its inclusion are met, based on Greek legislation. The list includes states the tax rate of which on profits or income or capital is equal to or less than 60% of the tax rate of legal persons and legal entities, according to Greek tax legislation.

Therefore, since the corporate tax rate in Cyprus is 12.5% and is less than 60% of the corresponding corporate rate of the Greek Authorities (22%), Cyprus has been included in the list since 2014, it is added.

Along with the Republic of Cyprus, Greece's list also includes other European states such as Ireland, Hungary, and Bulgaria, although none of them are included on the European list of non-cooperative jurisdictions, since the inclusion criteria are not based on the corporate tax rate but are related to tax transparency, information exchange and fair taxation, the Ministry clarifies.

Finally, the Ministry noted that the inclusion of Cyprus on this list does not affect the commercial and economic relations between the two states, nor the business activities between Cypriot and Greek companies.

(Source: CNA)

Cyprus in Greek list of states with preferential tax status since 2014 says FinMin

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