The PEA sent its own views on the government's proposals for tax reform in a letter to the Ministry of Finance on 24 March, noting that a comprehensive review and improvement of the tax system must be achieved.
According to today's announcement by the PEO, the letter is a response to a letter from the Director General of the Ministry of Finance, George Pantelis, who requested the PEO's positions on the government's proposals.
In its letter on "Tax Reform, the PEO states that "your proposal focuses mainly on the increase of the corporate tax rate from 12.5% to 15%, and on compensatory measures that can be adopted in order to offset the increase in the corporate tax rate with the aim of, as you state in your letter, cost neutrality".
(CNA)
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