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Successful 5th Tax Conference Held by SELK

Published February 17, 2026, 12:19
Successful 5th Tax Conference Held by SELK

The Association of Certified Accountants of Cyprus (SELK) successfully organized its 5th Tax Conference in collaboration with the Tax Commissioner's Office, focusing on Tax Reform. The conference aimed to provide a detailed presentation of the changes in taxation for individuals and legal entities and to support the implementation of the new tax framework. The President of SELK, Odysseus Christodoulou, emphasized the importance of timely information and the crucial role of the Association in shaping and interpreting the new regulations. The Deputy Minister to the President, Irene Piki, described the reform as a landmark change for the country, with the goal of a simple, transparent, and effective tax system. The reform includes changes such as the new tax-free threshold of €22,000, simplification of tax brackets, abolition of deemed dividend distribution, reduction of the Special Defense Contribution to 5%, and abolition of stamp duty. According to the Deputy Minister, approximately 200,000 taxpayers have already seen an increase in their income, while it is estimated that 30,000 individuals will be fully exempt from taxation by 2026. The success of the reform is based on close cooperation between the Government, Parliament, Tax Department, and SELK, with professionals playing a crucial role in bridging the gap between legislation and economic activity. The President of the Parliamentary Committee on Finance, Christiana Erotokritou, emphasized that the reform is a product of consultation and collective effort, highlighting the importance of common knowledge and acceptance of changes for a better future. The Cypriot economy is showing a positive trend with a growth rate close to 4%, public debt below 60% of GDP, surpluses of over 3%, and an upgrade of the country's credit rating.

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