Federal tax system in Cyprus was discussed with IMF experts.
Our partners attended the meeting on interded tax system of Federal Cyprus with IMF expert arranged by Turkish Republic of Northern Cyprus Ministry of Finance EU Unit on 1 March 2018. During the meeting, there were exchange of views between the IMF expert and TRNC accountants.The main topic discussed was the implementation of unified tax system for the future federal state.Derviş Kemal Deniz explained that a unified tax system for all sides is the most applicable system preventing all possible differences and that may a rise between the two states.He also stated that while there would be a unified federal tax system,special allowances and tax rate deduction for a period 5-10 years for the Turkish Constitent State would be essential for the development of the economy of the Turkish Constituent state and also for covergence of economies of both states.