Economy

End of “free” Temu and Shein parcels – How new charges are calculated

The EU online shopping tax landscape is set to change significantly, as a new European Commission regulation introduces a temporary €3 customs duty per...

More declarations and higher charges this year: What changes for taxpayers

The process for submitting individual income tax returns for the 2025 tax year has officially begun, with the Tax Department urging taxpayers to file...

Over 60 million barrels of oil flow to Asia after Strait of Hormuz reopens

Crude oil shipments to Asia from the Middle East are expected to accelerate in the coming weeks, as more than 60 million barrels of...

Submission of Individual Income Tax Returns open for 2025

The Tax Department has announced the opening of the submission period for Individual Income Tax Returns for the 2025 tax year through the TAXISnet...

80% of Kronos gas aimed to reach Europe

Cyprus is continuing its efforts to complete the first liquefied natural gas (LNG) import terminal in Vasilikos, despite geopolitical tensions and recent disruptions in...