Cyprus Business Now: tax reform, GDP estimate, nomad visa, hotels, shipping

The Cyprus Bar Association has expressed strong concerns over the proposed tax reform put forward by the University of Cyprus’ Economics Research Centre (CypERC).

The association has argued that it fails to achieve meaningful modernisation and lacks key mechanisms to ensure tax justice.

In addition, it called for an additional tax bracket of 40 per cent for annual incomes exceeding €120,000.

According to the association, the proposed reforms introduce outdated