NICOSIA — Cyprus is projected to collect more than €8 billion in tax revenue this year, marking an increase of at least €600 million compared to 2022, Tax Commissioner Sotiris Markides told lawmakers Thursday.
Speaking before Parliament’s Audit Committee, which reviewed the 2023 annual report from the Audit Office on the Tax Department, Auditor General Andreas Papaconstantinou said the government made a concerted effort to boost revenue, resulting in a significant rise in state income.
Audit Office Director Maria Pavlou added that overdue tax collections rose by nearly €1 billion over the two-year period from 2021 to 2023.