Kyriakos Iordanou: We need a modern, international and sustainable tax system

The belief that in order to move forward a "dynamic, modern, international and sustainable tax system" is necessary was expressed by Kyriakos Iordanou, General Manager of the Institute of Certified Public Accountants of Cyprus (ICPAC) in his introductory speech at the 7th Cyprus International Tax Conference.

Also the Conference’s Chairperson, Iordanou noted entrepreneurship and the economy of a country are greatly affected by developments such as wars and rising prices, worldwide. Geographical boundaries play an increasingly minor role in the face of the influence of globalization and digitization, he observed.

According to Iordanou, competitiveness remains important to the economy of each country, "even between jurisdictions".

ESG also appears to play a huge role, as well as initiatives from international organizations as they bring about significant changes to taxation and compliance, he pointed out.

Iordanou suggested at this point that the international situation is being taken into account for the basis of the tax reform and that in order to move forward in the future, "we need a dynamic, modern, international, sustainable system."

A reference was also made to ICPAC and its valuable contribution to the sector by providing information and highlighting issues that concern professionals in the field.

The 7th Cyprus International Tax Conference is taking place in Nicosia on 20 February.

This year’s conference aims to explore the main drivers behind EU and international tax policies, as well as the potential impact on Cyprus tax legislation and practices for both tax practitioners and companies in the main sectors of the economy.

Tax experts from both Cyprus and abroad, including policymakers and private sector leaders in their respective fields, will take the stage to share their insights on the changing architecture of international tax.

(Source: InBusinessNews)