The Institute of Certified Public Accountants of Cyprus (ICPAC) has expressed disagreement with almost all of the provisions in the tax reform bills in the comments it submitted in the context of the public consultation, with its leadership due to meet with Tax Commissioner Soteris Markides today, also the day the public consultation concludes.
As well as citing its disagreements, ICPAC has simultaneously submitted its own suggestions, with the President of the Association Odysseas Christodoulou, in the accompanying letter sent to the Minister of Finance, Makis Keravnos, emphasising that ICPAC's basic philosophy is the continuous enhancement of the value and credibility of Cyprus as a business destination of choice and quality. This, he suggests, is something that is achieved, "By continuously upgrading the product and services offered, as well as by simplifying, strengthening and effectively implementing the country's internal infrastructure, processes and operations, thus offering value-added services at a competitive cost."
Christodoulou further emphasises that for ICPAC, fundamental pillars for any tax system are:
- A) Its competitiveness.
- B) The sustainability of fiscal revenues.
- C) The maintenance of social welfare.
It is noted that, as InBusinessNews has been informed, the leadership of ICPAC will have a long meeting with Tax Commissioner Soteris Markides today, 10 September, during which there will be an extensive discussion and exchange of views between the two sides.
(Source: InBusinessNews)
