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Taxation. Taxes in Cyprus are levied by both the central and local governments. Tax revenue stood at 39.2% of GDP in 2012. [1] The most important revenue sources are the income tax, social security, value-added tax and corporate tax, and are all collected by the central government. Income tax is levied on a progressive rate.
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the ...
The economy of Cyprus is a high-income economy as classified by the World Bank, [3] and was included by the International Monetary Fund in its list of advanced economies in 2001. [1] [2] Cyprus adopted the euro as its official currency on 1 January 2008, replacing the Cypriot pound at an irrevocable fixed exchange rate of CYP 0.585274 per €1.
Ministry of Finance, Minister: Makis Keravnos. Ministry of Foreign Affairs, Minister: Constantinos Kombos. Ministry of Health, Minister: Popi Kanari. Ministry of Interior, Minister: Constantinos Ioannou. Ministry of Justice and Public Order, Minister: Anna Prokopiou. Ministry of Labour and Social Insurance, Minister: Yiannis Panayiotou [1] [2]
Health care in Cyprus accounted for 7% of its GDP in 2014. [1] Between 2010 and 2014, health care spending increased from $1,705 per capita to $2,062 per capita. [2] [3] Cyprus has a multi-payer health care system that consists of a public and private sector. [2] The public sector is funded by payroll, earnings taxes, and employer contributions ...
The President of Cyprus, officially the President of the Republic of Cyprus, [a] is the head of state and the head of government of Cyprus, as well as the commander-in-chief of the Cypriot National Guard. The office was established by the Constitution of 1960, after Cyprus gained its independence from the United Kingdom .
Politics of Cyprus. The Constitution of Cyprus is a document, ratified on August 16, 1960, that serves as the Supreme Law of the Republic of Cyprus (Suprema Lex Cypri) defining the system of government of the Cypriot Republic and the civil liberties for the Cypriot citizens. Cypriot government. [1]
Christodoulides government. The Cabinet (sworn in on 1 March 2023 [1]) formed by Nikos Christodoulides is the 14th Government of Cyprus [2] and forms part of the Council of Ministers . In the House of Representatives, the Government is in a minority coalition with the Democratic Party, Movement for Social Democracy and the Democratic Alignment ...
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