Advisory and consulting firm PwC Cyprus on Monday published its tax guide for 2023, providing a valuable source of information on the current tax system of Cyprus, which the company made available on its website.

“Once more, the 31st edition provides citizens and businesses with all the information related to tax issues, thereby contributing to tax compliance and prompt planning for both legal and natural persons,” the company said.

However, the company clarified that the publication, which is based on current legislation and practice, is not and should not be perceived as a substitute for specialist professional advice.

“This multi-page, detailed tax guide outlines the general picture of the tax system of Cyprus,” Tax Advisory Services Partner Stelios Violaris said, noting that “it is a useful tool both for existing tax residents and for potential foreign investors to gain a first comprehensive knowledge of the tax facts in the country”.

“It acquires additional significance and value especially in this period, as several foreign companies are considering transferring or setting up headquarters in Cyprus, while many others have already taken this step,” Violaris added.

The guide, entitled “Tax Facts & Figures 2023 – Cyprus”, is available on the organisation’s website, and can be downloaded here.

The Retail Trade Turnover index in Cyprus experienced a significant year-on-year increase in November 2022, according to a report released on Monday by the Cyprus Statistical Service (Cystat)

In addition, the index also marked an increase of more than 11 per cent year-on-year during the period between January and November 2022.

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According to the report, the Retail Trade Value Index grew by 12.4 per cent in November 2022, compared to the corresponding month of 2021.

What is more, during the same month, the Retail Trade Volume Index increased by 2.4 per cent compared to the corresponding month in 2021.

For the period between January and November 2022, the value index is estimated to have increased by 11.3 per cent and the volume index by 2 per cent, compared to the same period in 2021.

The Cyprus Stock Exchange (CSE) ended Monday, January 02 with profits.

The general Cyprus Stock Market Index was at 89.83 points at 13:17 during the day, reflecting a rise of 0.31 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 54.16 points, representing an increase of 0.31 per cent.

The total value of transactions came up to €26,603.

In terms of the sub-indexes, the main and investment firm indexes rose by 0.45 per cent and 1.17 per cent respectively.

The alternative index fell by 0.15 per cent while the hotel index remained unchanged from the previous day.

The biggest investment interest was attracted by Demetra Investments (+1.27 per cent), the Bank of Cyprus (+2.64 per cent), Louis (-4.35 per cent), Hellenic Bank (-1.38 per cent), and Vassiliko Cement Works Public Company (-0.78 per cent).