Specifities of the taxation system of the Republic of Cyprus

Abstract

In order for a state to execute, as part of its smooth functioning, a number of tasks, including the fulfillment of public needs, it is essential that required material resources are available. This means that the performance of government functions is complex and requires certain public revenues. They can be defined as transactions that increase the net assets of the country at all levels of local government. One of the forms of public revenue are taxes. The scope of this paper are significant changes in the taxation system of the Republic of Cyprus, made after its accession to the European Union.

Keywords

• tax
• taxation system
• republic of cyprus