Cyprus: From austerity to prosperity

November 08 2011

The first package of austerity measures was voted by the House of Representatives on August 26 2011. The measures intend to assist Cyprus in reducing expenditure while increasing revenue and at the same time maintaining Cyprus's reputation as a stable and competitive financial centre. The changes entail amendments to various laws, including amendments to the immovable property tax whereas a second and most likely a third package of further financial changes is expected in subsequent months.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login

Topics

International Updates Jurisdictions

more across site & shared bottom lb ros

More from across our site

Direct Tax

Audit And Fraud Investigation. Auditor Using Magnifying Glass

A taxing week: Waiving pillar two filing penalties a welcome yet sobering move

While it’s great that the OECD is alive to multinationals’ fears of being caught in a compliance trap, the ‘common understanding’ illustrates a worrying lack of readiness

Tom Baker, May 22 2026

Direct Tax

This week in tax: Tax partner headcount at large firms nearly doubles in 20 years

Rising demand for specialist expertise has fuelled the growth in tax partner headcounts, Cain Dwyer found; in other news, Switzerland has been urged to reconsider pillar two

Tom Baker, May 22 2026

Transfer Pricing

G7 backs pillar two SbS deal, opens pillar one dialogue

An OECD report on the taxation of the digital economy is expected by the end of 2026, according to the group of nations

Sam Sholli, May 21 2026

Direct Tax

How family offices are institutionalising the ownership of trophy assets

Trophy assets are evolving from personal indulgences to structured investments, prompting family offices to prioritise tax efficiency, governance discipline, and cross-border compliance

Jacopo Crivellaro, May 21 2026

Direct Tax

How to build a US private client practice, with Gunnercooke

As demand for complex, cross-border private client counsel spikes, Patrick McCormick sees opportunity in starting from scratch

Tom Baker, May 20 2026

Direct Tax

KPMG embeds Anthropic AI tool to improve tax client outcomes

As part of an exclusive global alliance, KPMG will become one of Anthropic’s ‘preferred consultants’ for private equity

Sam Sholli, May 19 2026

Direct Tax

Tiger Global risk in India: managing exposure across the lifecycle

In the second part of this series, the focus shifts to how taxpayers can manage ongoing risks across the lifecycle of cross-border structures

Ravish Bhatt, May 19 2026

Direct Tax

Pillar two implementing countries agree to waive filing penalties

Jurisdictions have moved to ensure that multinationals are not punished for late GIR filings due to a lack of available filing portals or exchange relationships

Sam Sholli, May 18 2026

Direct Tax

A taxing week: Welcome change ahead for UK tax adviser requirements

HMRC’s push for unified tax adviser registration won’t prevent every instance of improper conduct, but it is good for taxpayers and the UK’s reputation

Sam Sholli, May 15 2026

Direct Tax

This week in tax: Greenberg Traurig loses case over faulty tax advice to Dutch DJ

Elsewhere, the UAE’s tax office has issued an update on registration penalties and two firms have been busy making lateral hires

Sam Sholli, May 15 2026