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OEB President: We should not worry about the G7 decision

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OEB President: We should not worry about the G7 decision

Cyprus should not be particularly worried about the G7 countries' decision for a minimum corporate tax rate of 15%, said OEB President Antonis Antoniou, stressing the need for Cyprus to carry out the necessary reforms to attract more companies.

Specifically, when asked to comment on the G7 countries' decision for a minimum corporate tax rate of 15% worldwide, Mr. Antoniou said that “Cyprus is an attractive destination” for businesses and “I do not see that we should be particularly worried. It is enough to carry out, as he noted, “the reforms that need to be done anyway for the disbursement of funds from the EU” .

READ ALSO: Green light for global tax from the G-7

Mr. Antoniou also said that “we should look at it rather positively” in terms of attracting companies, adding that Cyprus has competing countries, such as “Ireland, which has many technology companies and which” we are likely to attract. ».

“We will see the developments but I would not feel particularly worried,” he stressed.

Finally, he said that the decision of the G7 will be led to the G20 and then to the OECD for approval, while noting that it is something we would probably expect as it was a statement by US President John Biden a few months ago.

Philenews / ΚΥΠΕ

Source: www.philenews.com

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