Cyprus Will Introduce 51 Laws by 2025

In order to implement the plan for restoration, sustainability and allocation of appropriate resources in Cyprus, 51 pieces of legislation will be proposed for consideration and approval by the Parliament.

23 laws are already under consideration. In the near future, another 28 legislative acts will be introduced. The adoption of 28 pieces of legislation is necessary to implement the reforms of the recovery plan and the payment of European funds to Cyprus.

The package of laws includes reforms in the field of justice and local government, laws on financial stability, investments, changes in the tax system, and the introduction of new taxes from 2023.

In addition, an investment facilitation bill will be included that will improve the competitiveness of businesses.

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Voting on most bills should take place by the end of 2021.

Source: stockwatch

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